REFILE-UPDATE 1-Kraft CEO--set to grow profits, Cadbury or not

(Adds word "said" in second paragraph)

* Says poised to meet earnings targets long-term

* Ready to deliver earnings at or above industry levels

NEW YORK, Oct 7 (Reuters) - Kraft Foods Inc (KFT.N) is in position to speed up its corporate overhaul under Chief Executive Officer Irene Rosenfeld, whether or not it succeeds in acquiring British chocolate maker Cadbury Plc CBRY.L, Rosenfeld said on Wednesday.

"We're now poised to deliver profit margins at or above industry averages and to consistently deliver against our long-term earnings target of 7-9 percent growth," she said during a speech at the World Business Forum. "Now is the right time to accelerate our transformation, whether in combination with Cadbury, or on a stand-alone basis. Either way, we're ready to take that next step."

Kraft, North America's biggest food company, made an informal offer to buy British confectioner Cadbury for $16.7 billion. Cadbury rejected the offer, and a UK regulator set a deadline of Nov. 9 for Kraft to make a formal bid.

Should it not make a formal offer by that deadline, it will have to walk away for six months.

Since Rosenfeld took charge of Kraft in 2006, Kraft, which makes Velveeta processed cheese, Oreo cookies and a host of other products, has put more money into advertising and product development as it has increased sales.

The company has also divested businesses like Post cereals, while buying businesses like the Lu biscuits line. (Reporting by Martinne Geller, with additional reporting by Brad Dorfman; editing by Gerald E. McCormick)