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Article: Kraft profit falls nearly 40%.(Business)(Financial report)
- Article from:
- Daily Herald (Arlington Heights, IL)
- Article date:
- November 4, 2009
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Kraft profit falls nearly 40%
NORTHFIELD u Kraft Foods says slower sales and lower prices on food cut its third-quarter profit nearly 40 percent from a year earlier, but the company raised its forecast for the year. Kraft said Tuesday that it earned $824 million, or 55 cents per share for the quarter. ThatAEs down from $1.36 billion or 91 cents per share last year, which included income from some operations that have been discontinued.
Revenue fell nearly 6 percent to $9.8 billion.
Kraft executives "remain interested" in a possible offer for UK candy company Cadbury PLC but CEO Irene RosenfeldAEs statement gave no details on price or timing for ...