Cadbury Acquisition Boosts Kraft Q1 Revenues

The acquisition of Cadbury by Kraft Foods has seen the US food giant post a 26% increase in Q1 net revenue of $11.3bn.

Kraft said its combined organic net revenues grew 3.9%, reflecting 3.3% organic net revenue growth of Kraft Foods’ base business and 8.2% organic net revenue growth of Cadbury.

The confectionery manufacturer’s operating income in the quarter increased 2.6% to $1.2bn while its reported profit was $1.89bn including discontinued operations and other items, it said.

Sales rose 7.3% to $11.32bn and its US beverage sales increased 4.9% in the quarter, while sales of convenience meals rose 4.8%, Kraft said.

In January, Kraft bought Cadbury for $18.4bn after a long takeover battle.