Page last updated at 13:08 GMT, Tuesday, 16 February 2010

Kraft's fourth-quarter profit more than triples

Cadbury chocolate

US food giant Kraft Foods has said that its fourth-quarter profit more than tripled as sales rose in developing countries.

The company made $710m (£453m) for the three months to 31 December, from $178m in the same period last year.

Sales climbed 3.2% to $11bn - with developing market sales up 11%.

Kraft earlier this month completed its £11.5bn takeover of UK chocolate maker Cadbury - and announced 400 jobs would go as it closed a factory in Keynsham.

Kraft's brands include Kenco and Maxwell House coffee, Oreo biscuits, Jacobs, Terry's Chocolate Orange and Toblerone, as well as cheese products such as Philadelphia and Dairylea.

MPs next month will question senior officials from Kraft over the takeover and the factory closure.

Factory timeline

Plans to close the Keynsham plant in south-west England were originally announced by Cadbury in 2007 as it looked to move production to Poland.

Before its bid was accepted, Kraft told the BBC: "We believe we would be in a position to keep the Somerdale plant operating and we are sincere about that."

However it now says that it only became aware of how advanced plans for the new Poland factory were after the takeover deal had been agreed.

With the purchase of Cadbury, Kraft becomes the world's biggest confectioner.

As well as Dairy Milk, Cadbury also consists of the Green & Black's chocolate brand, Halls lozenges, Trident and Dentyne gum brands and liquorice allsorts maker Bassett's.

It spun off its drinks division as a separate business last year.



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