Kraft Announces Q3 Results

25 October 2006

NORTHFIELD, Illinois: Kraft Foods ceo Irene Rosenfeld is less than satisfied with the company's 11% increase in third-quarter profit, calling the results "mixed".

The maker of such brands as Maxwell House coffee and Philadelphia cream cheese said its net income of $748 million (€596m; £400m) was up from $674m in the year-earlier period, boosted by strength in powdered drinks and convenience foods in the US, together with growth in Latin America and Europe. Revenue climbed 2.3% to $8.24 billion.

But Rosenfeld said "some parts of the business aren't performing the way we need them to" and pointed to the discontinuation of select product lines as well as weakness in several beverage and grocery franchises.

Data sourced from Wall Street Journal Online; additional content by WARC staff