Kraft hit by Cadbury and commodities

first_img More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.com Kraft hit by Cadbury and commodities KRAFT FOODS saw its quarterly income drop 24 per cent on last year as the cost of taking over UK confectioner Cadbury began to bite. Net income at the owner of Oreo cookies and Philadelphia cheese fell to $540m (£335.5m) from $710m a year ago, in part due to costs linked to Cadbury and to the rising price of corn, sugar and cocoa. Revenues rose 30 per cent to $13.8bn, slightly ahead of consensus estimates, including a 26.2 percentage point gain from acquiring Cadbury in a controversial deal last February. Cadbury fared badly in North America in the fourth quarter, with net revenues dropping 6.1 per cent after lower sales of Trident and Stride chewing gum.Cadbury turnover in Europe was flat, with a decline in southern Europe offsetting what Kraft said were strong sales in the UK. Operating income in Europe fell 27.7 per cent to $159m, as costs linked to integrating Cadbury wiped out half of the division’s profit.In emerging markets, where Kraft hopes to grow through its takeover of Cadbury, the group saw revenues rise 73.5 per cent with 61 percentage points coming through Cadbury.Kraft forecast profit growth of between 11 and 13 per cent excluding integration costs this year, which has been scaled back from predictions of “mid-teens” growth in November’s update. Tags: NULL whatsapp Thursday 10 February 2011 8:45 pm Sharecenter_img whatsapp Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldUndoBetterBe20 Stunning Female AthletesBetterBeUndoAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteUndoDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionUndoTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmUndo Show Comments ▼ KCS-content last_img

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