Rise in prices helps Kraft cook up profit of US$813 million over first three months of ’12


AP

NEW YORK — Kraft Foods Inc. said Thursday that the growing popularity of its cookies and chocolates in developing markets — and the higher prices it charged around the world — helped its profit edge up in the first quarter.

The parent company of Nabisco, Velveeta, Miracle Whip and other brands says it earned US$813 million, or 46 cents per share, in the first three months of the year. That’s up 1.8 percent from US$799 million, or 45 cents per share, a year earlier.