Kraft Quarterly Profit Surges

Kraft Foods has reported a Q4 net income of $710m, or 48 cents a share, compared to $178m, or 12 cents a share a year earlier.

The food giant’s Q4 net revenues increased 3.2% to $11.0bn, Kraft said.

Sales rose 3.2% to $11bn while gross profit margin increased to 37.5% of sales from 31.6%.

The firm’s 2009 net revenues declined 3.7% to $40.4bn due to currency, Kraft said.

Organic net revenues increased 10.4% in the company’s developing markets such as Latin America, Asia Pacific, Central and Eastern Europe, and Middle East & Africa, Kraft said.