Higher drinks salesThis article was originally published in Foodnews
KRAFT Foods has reported its results for 2007. Net revenues grew 8.4% to US$37.24 billion, of which the majority (US$23.94 billion) came from North America. Within this unit, snacks and cereals contributed the highest sales at US$6.53 billion, followed by cheese and foodservice at US$6.38 billion, convenient meals at US$5.10 billion, beverages at US$3.24 billion and grocery at US$2.70 billion. The remaining revenues comprised the EU division at US$7.95 billion and developing markets at US$5.35 billion. Total operating income declined 4.2% to US$4.33 billion. The EU division saw its operating income increased by 4.2% and developing markets grew 18%. The beverage division of Kraft North America saw its operating income rise significantly by 64.4%.