QUICK LINKS: Vending Videos  | Micromarkets  |

VT Classifieds

|

Buy a Classified Ad

|

Editorial Calendars

|

Circulation Data

|

Downloads

|

Bookstore

|

Operators Date Book

Search:      

Bookmark this site




Issue Date: Vol. 50, No. 9, September 2010, Posted On: 8/13/2010


Kraft's Q2 Net Income Rises 13%


Emily Jed
Emily@vendingtimes.net
Kraft Foods, Kraft Vending and OCS, Oreo, Cadbury, Trident, Dentyne, vending foods, vending, vending machine, vending machine business, vending machine suppliers

NORTHFIELD, IL -- Kraft Foods Inc. posted second-quarter net profit of $937 million, up 13.3% from $827 million in the year-ago period. Boosted by its acquisition of British confectionery giant Cadbury last February, Kraft saw quarterly net revenue surge 25.3% to $12.3 billion.

In North America, sales climbed 6.3% to almost $6.2 billion, driven by strong demand for new Trident and Dentyne gums. Sales grew 73% in developing markets, led by chocolate in India, Oreo cookies in China and gum in Latin America.

On an organic basis, which excludes the impact of exchange rate fluctuation, acquisitions and divestitures, Kraft's net revenue increased 2.2%.

Looking ahead, the food giant increased its estimate for cost savings from the Cadbury integration to at least $750 million from $675 million, and raised the anticipated cost of merging the two companies to approximately $1.5 billion from $1.3 billion.

Kraft lowered its organic net revenue growth forecast to 3% to 4%, in part because Cadbury distributors carried higher inventories in some markets than expected. Kraft also said rising commodity prices such as cocoa, sugar and wheat, will impact expenses.

 


Topic: Vending Features

Articles:
  • PepsiCo To Phase Out HFC In Vending Machines, Coolers And Fountains By 2020
  • Shop24 Global Appoints Dave Brotherton Marketing And Business Development VP
  • Startup Targets Travelers With Mobile Accessories In Vending Machines
  • Boyer Candy's Rebate Program Offers Discounts To Vending Operators
  • AprivaPay Plus Delivers Analytics And ADA Accessibility Features

Copyright © 2014 Vending Times Inc. All rights reserved. 
P: (516) 442-1850 | F: (516) 442-1849 | subscriptions@vendingtimes.net
55 Maple Ave. - Ste. 304, Rockville Centre, NY 11570