(News Bulletin 247) – Kellogg’s announced on Thursday that it has raised its growth forecast for 2023 after recording a good start to the year, marked by performance above its long-term objectives.
The world number one breakfast cereal indicates that it achieved net sales in the first three months of the year up 10% to 4.05 billion dollars, mainly under the effect of its price increases. price.
For comparison, the consensus was for $3.95 billion.
Its operating profit fell by 15% to 440 million dollars, a decline that the Michigan-based group explains by the costs related to the start of the project to split its cereal activities in North America.
Excluding exceptional items, its net earnings per share amounted to 1.10 dollars, a level higher than the average expectations of financial analysts who were expecting 99 cents.
In its press release, Kellogg’s now says it anticipates a net increase in its organic turnover of between 6% and 7% this year, and no longer between 5% and 7%.
As for its adjusted operating income, it is now seen up by 8% to 10% once adjusted for exchange rates, and no longer between 7% and 9%.
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