USA: Quaker Oats post rise in Q1 operating earnings
Quaker Oats reported on Thursday that income from operations in its fiscal first quarter rose 4% on the back of increases in sales of beverages, hot cereals and grain-based snacks. The cereal giant, which is due to come under the control of PepsiCo , said earnings in the quarter rose to US$196.5m from US$189.3m a year ago. Net sales rose to US$1.23bn from US$1.17bn. The company said it expects to post double-digit growth in second quarter sales and operating income.
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