Kraft Foods, the world’s No. 2 food maker, reported a 6.3 percent dip in fourth-quarter profits, to $585 million, which it attributed to higher marketing costs and rising dairy prices. Cheese accounts for about 20 percent of Kraft’s revenue. “Commodities are a headwind,” said John Sini at Douglas C. Lane & Associates in New York. (Bloomberg)
The Bottom Line
January 30, 2008
Try 4 Risk-Free Issues of The Week magazine.