American food company Kraft Foods has outlined the strategic growth priorities for its snacks business,which will be known as Mondelēz International after the company spin-off its North American grocery business in October 2012.
Following the spin-off,the North American grocery business will be named Kraft Foods.
Kraft Foods Chairman and CEO Irene Rosenfeld said that with the spin-off of the North American grocery business,the global snacking company will be poised to deliver top-tier revenue and earnings growth.
Over the long-term,Mondelez International expects to generate a revenue growth of 5%to 7%and double-digit operating EPS growth on a constant-currency basis
For 2013,the snacks business expects to deliver results that are in line with the long-term outlook-an organic net revenue growth of 5%to 7%and Operating EPS of$1.50 to$1.55,including a significant foreign exchange affects of about$0.15 cents versus 2011 currency rates.
Kraft Foods executive vice president and CFO Dave Brearton said that Spin-off and debt-migration costs are expected to be in line with earlier guidance,however,restructuring costs at Mondelez International are expected to be higher due to additional restructuring programs in the US and Europe.
