Kraft's profit rises as new products drive sales
NEW YORK – Kraft Foods' net income rose 13 percent in the third quarter, the food maker said Wednesday, as new products and increased advertising helped it top Wall Street expectations.
The company, which makes Oscar Mayer, Maxwell House coffee and Miracle Whip, also stood by its forecast for 2013.
The results are the first since Kraft Foods Group Inc., based in Northfield, split with its global snack food business. That company is called Mondelez International and is home to brands such as Oreo, Chips Ahoy and Nabisco. The split was intended to accelerate growth by allowing each of the companies to focus on a more targeted portfolio of products.
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