News

Nameproducts doing well for Kraft

Kraft reports its first-quarter profits were up 10% compared to a year ago even though sales were lower. The nation’s largestfood-and-beverage company earned $660 million for the quarter, which works out to 45 cents per share and compares to $599 million and 39 cents per share a year ago. Although the company did write-off $98 million in restructuring costs last year.

While overall volume wasdown for the quarter, some of the company’s best-known names did very well especially Kraft Macaroni & Cheese, Jell-O, Kool Aid and Oreos. Oscar Mayer, DiGiorno and Jack’s Pizza pushed the convenience meats category net revenue up 8.2% for the company.

Organics netrevenue was up 2.3% for the quarter.