- Interfax -
Brief report on financial results of Kraft Foods in Russia where it posted a net profit of 682 million rubles in 2008, 42% less than in 2007, according to the SPARK database.
Kraft Foods Rus LLC posted a net profit of 682 million rubles in 2008, 42% less than in 2007, according to the SPARK database.
Revenue rose 25% to 21.8 billion rubles, up from 17.4 billion rubles in 2007. Gross profit was up 35% to 9.5 billion rubles.
The main assets of Kraft Foods Rus are a confectionary plant in Pokrov, Vladimir region, and a coffee facility in Leningrad region, which prepares and packages instant and freeze-dried coffee.
It also owns Bolshevik, a leading Russian confectionary plant, whose revenue increased 7% to 3.5 billion rubles, although the net loss widened to 179 million rubles from 141 million rubles a year earlier. Gross profit at Bolshevik fell to 145 million rubles from 1.17 billion rubles.
Kraft opened its representation in Russia in 1994. Its portfolio includes coffee brands Carte Noire, Jacobs and Maxwell House, chocolate brands Alpen Gold, Vozdushny, Milka, Toblerone, Chudny Vecher and Cote d'Or and potato chip brand Estrella.
Kraft Foods posted a net profit of $2.9 billion in 2008 on revenue of $42.2 billion. The Kraft Foods International division, which operates in Europe and emerging markets, had $18.25 billion in revenue last year.