Kraft Foods has reported an 11% increase in third-quarter profit to $748m (£400m) on sales up 2.3% at $8.2bn (£4.4bn).

In Europe, Kraft said that sales rose 3% to $1.54bn, with small gains in coffee and chocolate offsetting declines in grocery and cheese.

Irene Rosenfeld, chief executive officer of Kraft, said: “Our third-quarter results were mixed. While income growth was strong, our aggregate top-line growth is not where it needs to be.”