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Kraft forecasts earnings growth
Kraft Foods has forecast earnings growth of at least nine per cent this year even as it prunes its portfolio of North American brands. Kraft, due to split in two this year, forecast 2012 net revenue growth of about five per cent, including a hit of up to one percentage point from “product pruning” in North America. It said net income was $830m in the fourth quarter, up from $540m a year earlier.