FDBusiness.com

Pringles Boosts Kelloggs

 Breaking News
  • AllinAll Ingredients Officially Opens New €5 Million Facility in Dublin An Taoiseach Leo Varadkar, TD (pictured above left), has officially opened AllinAll Ingredient’s new state-of-the-art manufacturing and Research and Development facility in Rosemount, Dublin. The company, which has been in the food industry for over 20 years, develops and manufactures ingredients, sauces and blends for the processed food market. Its R&D lead team have developed [...]...
  • Starbucks Extends Strategic Partnership With Arla Foods After seven years of a successful business partnership, Starbucks has a new strategic licensing agreement with the farmer-owned dairy co-operative Arla Foods. The two companies have signed a long-term 21-year strategic agreement, giving Arla Foods license to continue to manufacture, distribute and market Starbucks premium milk-based ready-to-drink (RTD) coffee beverages for the EMEA region (Europe, [...]...
  • Dual Quality of Food – European Commission Releases Common Testing Methodology The European Commission has just released a new common methodology for comparing the quality of food products across the EU. The Joint Research Centre (JRC), the European Commission’s Science and Knowledge service, has developed a common methodology to allow national consumer authorities to carry out tests comparing the composition and characteristics of food products sold [...]...
  • Müller Launches FRijj Ambient Range Müller has introduces FRijj with a longer lasting ambient recipe for the first time. The new FRijj ambient range is being produced at Müller’s Severnside site, which has benefited from substantial investment to create a new centre of excellence for milk drinks and fresh cream. Müller intends to use the increased capabilities at Severnside and across [...]...
  • Irish Gin Exports Up 433% in First Quarter of 2018 New CSO figures reveal that the value of Irish gin exports grew by a whopping 433 per cent in the first quarter of 2018, compared to the first quarter of 2017. In the first quarter of 2018, exports of Irish gin were valued at €935,000, compared to just €175,000 in the first quarter of 2017. [...]...

Pringles Boosts Kelloggs

Pringles Boosts Kelloggs
February 10
10:59 2014

Kellogg Company has reported a 4.2% increase in net sales to $14.8 billion for 2013. However, full-year internal net sales, excluding the effects of foreign currency translation and acquisitions/disposals, increased by 0.3%. Reported operating profit increased by 81.6% to $2.84 billion; reflecting very strong results posted by the Pringles acquisition for the full year. Full-year underlying internal operating profit increased by 1.3%.

Reported full-year 2013 net earnings were $1.8 billion, or $4.94 per diluted share.

“Our Pringles business had an excellent year in 2013, although we continue to face challenges in some of our developed cereal businesses,” says John Bryant, president and chief executive of Kellogg. “We are executing our strategy, and we are also progressing very well with Project K, our four-year efficiency-and-effectiveness program. Our expectations are that, over time, Project K will begin to provide us the fuel we need to drive growth in our categories, and across our businesses, in the years to come.”

Kellogg’s European business increased net sales from $2.53 billion to $2.86 billion but operating profit slipped from $261 million to $256 million.

About Author

mike

mike

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • June 17, 2018The Excellence of Italian Food and Wine (Bellavita Expo)
  • June 25, 2018Packaged., The 7th Global Summit
  • September 5, 2018Int'l Food Products and Processing Technologies Exhibition (WorldFood Istanbul)
  • September 15, 2018iba
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements