US food giant Kraft has reported higher-than-expected first quarter profit, helped in part by its purchase of UK confectionery maker Cadbury. Kraft said net profit was $937m (£590m), up from $827m in the same period a year earlier earlier. Net revenue rose 25.3% to $12.3bn, boosted by the addition of Cadbury, which it acquired in a controversial takeover at the beginning of the year. Kraft was criticised for breaking pledges over Cadbury plant closures. Our first quarter results are early evidence of our future potential in combination with Cadbury, said Irene Rosenfeld, Kraft chairman and chief executive.The above article was extracted from Skyline updates of Skyline College. Skyline College is amongst the top MBA and BBA institutes in Delhi, Gurgaon (NCR).
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