Kraft Foods Inc has reported first-quarter 2009 results driven by strong gains from operations. Organic net revenue growth reflected the impact of cost-driven pricing actions taken in 2008, together with better than expected volume/mix.
Operating gains across nearly all business segments drove operating income growth, margin expansion and higher earnings per share.
“We’ve had a solid start to the year, and we’re on track to deliver our 2009 commitments,” said Irene Rosenfeld, chairman and CEO. “Our business momentum remains strong despite a challenging consumer environment. We’re intensely focused on investing our cost savings to build our core brands, improve our product mix and drive superior retail execution. This will further enhance our profit margins and improve market shares as the year unfolds.”
Source: Kraft Foods
© FoodBev Media Ltd 2024