Kellogg's profit grows 30% in Q1

NEW YORK-the multinational Kellog recorded profit of $ 406 million (US $ 1.12 per share) in the first quarter of this year. The amount is 30% greater than the $ 311 million ($ 0,85 per share) in the same period last year. The company's revenue, however, fell 3.1 percent to $ 3.74 billion, impacted by weakened demand in emerging markets.
Heard by the Thomson Reuters analysts expected profit of $ 0.97 per share and revenue of $ 3.81 billion.
By region, the Kellog recorded 2.9% drop in sales in North America, from 9.3% in Latin America and 11% in the Asia-Pacific region. Already in Europe, there was an increase of 2.3%.
The expectation of Kellogg is that sales to grow in the current quarter after making investments in advertising in the United States and in parts of Australia and Europe. So much so that the company did not change its guidance for the remainder of the year. Source: Dow Jones Newswires.