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Kraft profits increase

This 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.



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