Kraft Foods Q1 sales and profits higher

Kraft Foods Inc. has announced rises in revenues and net earnings for the first quarter ended 31 March 2005. Net revenues in the first quarter were $8.059bn, compared with $7.565bn in the same period in 2004. Net earnings of $713m compare with $560m a year earlier. “Kraft’s first quarter results reflect solid progress against our Sustainable Growth Plan,” said Roger K. Deromedi, CEO. “We maintained our top-line momentum while investing in our brands, adjusting our portfolio further, growing our business in developing markets, and continuing to drive out costs.”