CAIRO: Kraft Foods Inc. saw an 11.5 percent increase in net revenues in the third quarter, reaching $13.2 billion, according to a statement.
Kraft Foods, which has four production plants in Egypt, said the improvement in third quarter results were “driven by strong organic revenue growth and operating income gains in each geographic region,” the company said.
Organic net revenues grew 8.4 percent, and the company raised the outlook for 2011 to at least 6 percent.
In Egypt, Kraft Foods focuses on five categories and nine brands — Cadbury Dairy Milk, Flake, Moro, SMS, Tang, Tuc, Trident, Clorets and Halls. Three of these (CDM, Tang and Trident) globally generate $1billion annually.
Gawad Abaza, managing director of Kraft Foods Mashreq, said across the developing markets region, Kraft has experienced double-digit growth, with net revenues increasing to 20.3 percent.
Organic Net Revenues grew 15.3 percent, “driven by favorable pricing and strong volume/mix growth.”
“Our investments in marketing and new products continue to drive high quality growth and solid market shares. And we’ve accomplished this despite having taken significant price increases to offset record-high input costs,” said Irene Rosenfeld, chairman and CEO.
