The food manufacturer reported a 26% increase in sales to $11.9bn (£7.5bn) in the three months to 30 September “impacted favourably” by the Cadbury acquisition.
Irene Rosenfeld, Kraft chairman and CEO, says: “We had another good quarter, and we’re executing well. Our global growth strategy of focusing on snacking and Power Brands gives us a clear path to top-tier performance.
Kraft’s Power Brands include: Kenco, Philadelphia, Dairylea and Oreo.
Rosenfeld adds: “The Cadbury integration has proceeded smoothly and quickly, and we’re already benefiting from significant cost synergies. I remain confident that we will achieve our goals for 2010 and accelerate our growth in 2011.”
In Europe, Kraft sales increased by 1.1% driven by 3% growth from its Power Brands wile Cadbury sales declined 0.4% as a weak performance in Southern Europe offset solid growth in Britain and Ireland.
Separately, Starbucks announced in its fourth quarter results yesterday (4 November) that it planned to end its 12-year, $500m (£308m) grocery distribution relationship with Kraft.
Kraft has rebutted this claim in a statement saying its distribution agreement with the coffee chain regarding the sale of Starbucks packaged coffee in grocery stores and other channels is “perpetual”.