Kellogg's net profit rises 1.7% in 3Q, for $ $297 million

São Paulo, 31/10-American breakfast cereal maker Kellogg reported net income of $ $297 million (US $ $0.85 per share) in the third quarter of 2017. The result represents a slight increase of 1.7% in comparison with the same range of 2016, when the company reported a profit of $ $292 million.
The company's revenue totaled $ $3.273 billion in the period, practically in line with the registered in the third quarter of 2016, $ $3.25 billion (+ 0.6%). The Kellogg attributed the slight revenue growth to the acquisition of the maker of pastas and cookies Parati, in Brazil, in December last year.
The acquisition added $ $48 million to $ $3 million and revenue to operating profit. The exchange rate also favored the company's sales. Without the currency effects, revenue had a slight drop, according to the company, because of upcoming price adjustment.
The company's operating profit was $ $464 million in the third quarter of 2017, compared with $ $410 million in the third quarter of 2016 (+ 13.1%).
In North America, the company retreated 1.6 percent to $ $2.18 billion. In Europe, sales rose from $ $594 million to $ $599 million in the third quarter of 2017 before the same period in 2016. In Latin America, sales rose 21.5%, to $ $197 million to $ $240 million. In Asia-Pacific, the amount rose from $ $248 million to $ $254 million (+ 2.9%).
For 2017, the company reaffirmed the prospect of a fall in revenue, excluding exchange rate variations, of about 3%. The operating profit should grow between 7% and 9%.