Philadelphia, PA (PRWEB) February 22, 2014
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Kraft Food Group's fourth-quarter revenue hit below Wall Street's predictions, however, Kraft's profits exceeded Wall Street's expectations due to a significant accounting boon, associated to retiree compensations and benefit plans. Kraft's revenue increased by 2.3%, adding up to nearly $4.6 billion. Kraft's organic revenue climbed to 3.2%. To read more statistics visit articles.chicagotribune.com/2014-02-13/business/chi-kraft-earnings-20140213_1_kraft-foods-inc-kraft-macaroni-cheese-mondelez-international-inc.
"We made significant strides during our first full year as a public company," said Kraft CEO Tony Vernon. "Our focus on driving profitable growth while reinvesting in our brands and people has delivered solid results to date and will serve us well as we continue to remake Kraft into the best food and beverage company in North America." Additional commentary from Kraft can be found at online.wsj.com/article/PR-CO-20140213-916835.htm.l
Kraft's operating income, excluding accounting benefits, increased more than 50%. The cause of the dramatic percentage increase is attributed to a combination of lower spending on cost saving initiatives, volume gains, and amenable marketing costs. More information on Kraft's profit increase can be found at invests.com/kraft-foods-profits-up-helped-by-accounting-gain/20140214030413379.
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