23 Jul 2012 19:40

Kraft Foods ups net profit in Russia 60% in 2011

MOSCOW. July 23 (Interfax) - LLC Kraft Foods Rus, the Russian subsidiary of U.S. giant Kraft Foods, posted net profit of 3.5 billion rubles in 2011, 60% up on 2010 (2.2 billion).

The SPARK database shows that revenue reached 44.7 billion rubles, up from 33.1 billion. Gross profit grew from 16.5 billion to 23.6 billion rubles.

Kraft Foods has operated on the Russian market for 18 years. In February 2010 it took over British company Cadbury, boosting its number of plants in Russia to six.

Investment in Russia is nearing $1 billion.