Kellogg Reports Resilient Sales

US-based Kellogg has posted resilient sales figures for the first quarter of the year. Over the period the company's internal net sales growth, which strips out the impact of currency translations and acquisitions, reached 4% - only slightly below the long-term trend (see chart). Currency movements meant that sales on a reported basis fell by 3% to US$3.2bn and that operating profit declined by 3% to US$529mn. However on an internal basis operating profit increased by 7%.

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