Kellogg saw “better than expected” second-quarter results fire sales and earnings growth during the first half of the year.
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The US food giant today (26 July) posted an 8% rise in profits for the six months to the end of June, on the back of 9% increase in revenue. Operating profit reached US$1.02bn; net sales climbed to just under $6bn.
“We now enter the second half of the year with additional confidence and the flexibility to increase our investment in future growth,” said Kellogg CEO David Mackay.
Kellogg posted what it termed as “excellent results” during the second quarter; operating profit jumped 12% and sales rose 9% against a “difficult competitive environment”.
The company’s sales in North America grew by 7% thanks to growth across the business.
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By GlobalDataInternational sales rose 13% with growth in Europe and Latin America. Sales in Asia Pacific, however, dipped 1%.
Kellogg reiterated its full-year guidance on sales and earnings. The company said it expects “internal sales” – when currency fluctuations are stripped out – and operating profit to increase at “a mid single-digit rate”.
