It was a very good first quarter for Kraft; sales grew at its existing operations as well as in the newly acquired Cadbury division. The company posted a profit of $1.88 billion, or $1.16 a share, up from $660 million or 45 cents a share in the first quarter last year. Excluding acquisition-related costs and other items, the company said operating earnings from continuing operations rose to 49 cents a share from 41 cents.
Revenue rose 26% to $11.32 billion, helped by the addition of Cadbury. The company completed its $19 billion takeover of the British confectioner in February
Projecting forward, the company expects earnings of at least $2.35 a share for 2010 and combined organic revenue growth of at least 4% for the year.
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