Kraft third-quarter profit rises

Kraft Foods Group Inc reported higher third-quarter profit on Wednesday, citing help from products, increased investments in advertising and productivity gains.

The newly independent maker of Oscar Mayer lunch meat and Kraft cheese said net income rose to $470 million, or 79 cents per share, from $417 million, or 70 cents per share, a year earlier.

Revenue increased 3 percent to $4.61 billion. (Reporting by Martinne Geller in New York; Editing by Jeffrey Benkoe)