U. S food giant Kraft foods reported that its fourth-quarter earnings rose to $710 million or $0.48 a share as compared to $178 million or $0.12 a share reported in corresponding quarter last year.

The company which recently acquired British chocolate maker Cadbury for £11.5bn said the business improved in emerging markets on price hikes and recorded double digit volume growth.

The company reported Net revenues to the tune of $11.03 billion for the quarter against $10.68 billion recorded in the corresponding quarter last year.

"We're ready to begin an exciting new chapter at Kraft Foods, with Cadbury's brands as a valuable addition to our portfolio," said Irene Rosenfeld, Chairman and CEO of Kraft. "Together, we'll remain focused on driving sustainable top-line growth, while delivering against our cost savings and synergy opportunities."

The company reported that sales for Kraft Foods Europe jumped 8% and sales at emerging markets witness an increase of 11%. The company expects to achieve organic net revenue growth of 5% or more as a combined entity which is the largest confectionary in the world recorded strong earnings and free cash flow growth in a turbulent global economic environment.