Kraft profits increaseThis article was originally published in Foodnews
US FOOD giant Kraft Foods Inc posted a 10% rise in profit in the first quarter due to price increases and cost savings. Net profits reached US$660 million, from US$599 million a year earlier. Sales, meanwhile, fell 6.5% to US$9.4 billion due to the strong dollar. However, price increases last year partly offset the effects of currency swings and rising pension expenses, Kraft said.