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Kraft Foods Reports Strong Growth in Q1

DUBAI - Kraft Foods Inc. recently reported its first quarter 2009 results, driven by strong gains from operations. The company’s organic net revenue growth reflects the impact of cost-driven pricing actions taken in 2008, together with better-than-expected volume/mix.

In Kraft Foods’ Developing Markets, which includes countries in the Middle East and Africa, Central and Eastern Europe, Asia Pacific and Latin America, organic net revenues increased 12.0 per cent driven by solid gains in each region. Kraft Foods Middle East and Africa contributed to these results by continuing its trend of strong growth, driven by successful regional investments in cheese, powdered beverages and snacks, as well as stable pricing, favourable product mix, increased local production of beverage, cheese, and biscuits, together with optimal business relationships with distributors, JV partners and suppliers. “Despite a challenging consumer environment, Kraft Foods Middle East and Africa had a very solid start to the year with Power Brands such as Tang powdered beverages, Kraft cheeses, Oreo cookies, Toblerone chocolate and Philadelphia cream cheese performing very well.”