AP News

News Summary: Kraft's profit up after split


TASTY RESULTS: Kraft Foods Group Inc. earnings rose 13 percent in the third quarter, as the maker of Oscar Mayer, Velveeta and Miracle Whip looks to redefine itself after splitting from its global snacks business.

RECIPE FOR SUCCESS? Executives are embracing the spirit of a startup, with plans to drive growth through innovation and the revitalizing languishing brands like Jell-O and Maxwell House.

LOOKING FOR THE RIGHT MIX: The company stood by its forecast for 2013, but warned that revenue for its current quarter could come in flat to down as it continues to prune less profitable products.


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