Kraft hails robust growth in swansong as single company

Kraft Foods has unveiled a robust hike in sales in the final set of annual results before the group’s split in two later this year.

Sales across the group were up 10.5% to $54.4bn (£34.4bn), or up 6.6% on an organic basis – with most of the increase driven by price hikes.

In Europe, net revenues were up almost 15% for the year, while reduced costs from the integration of Cadbury contributing to profits improving by more than a quarter.

“We delivered terrific results in 2011, and our businesses are healthier than ever due to the disciplined execution of our strategy,” said chief executive Irene Rosenfeld.

“We expect to deliver top-tier growth in 2012 in line with our long-term targets, while we prepare to successfully launch the North American grocery and global snacks companies later this year.”

Kraft warned that costs of its separation into two businesses could total as much as $1.8bn.