Cadbury helps Kraft sales soar
US food giant Kraft has attributed its 30 per cent revenue rise to its purchase of Birmingham chocolatier Cadbury. Sales in Kraft’s European foods division soared during the fourth quarter, following last year’s multi-billion pound Cadbury buyout.
However, the costs associated with the acquisition of Cadbury took its toll on the company's end profits, which dropped 24 per cent.
Revenue rose more than 28 per cent in the company’s European foods division, which included a 33 percentage point increase attributed directly to Cadbury.
Sales were also 12.2 per cent up in the company’s North America division. Kraft Food’s developing markets experienced sales growth of more than 73 per cent.
Kraft bought Cadbury in a controversial £11.5bn takeover last year.
Kraft’s brand portfolio includes household names such as Oreo cookies, Philadelphia cream cheese, Kenco coffee and Toblerone.
