April 30, 2020 / 12:16 PM / a month ago

Pringles maker Kellogg says profit jumps 23% on virus-led stockpiling

April 30 (Reuters) - Breakfast cereal maker Kellogg Co on Thursday reported a 23% rise in quarterly profit as consumers in North America and Europe stocked up on its packaged foods amid coronavirus-driven lockdowns.

Net income attributable to the Battle Creek, Michigan-based company was $347 million, or $1.01 per share, for the first quarter ended March 28, compared with $282 million, or 82 cents per share, a year earlier.

Quarterly net sales dropped to $3.41 billion from $3.52 billion last year, hurt by the sale of its Keebler cookie business and some other assets to Nutella maker Ferrero SpA. (Reporting by Praveen Paramasivam in Bengaluru; Editing by Devika Syamnath)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below