Kellogg profit falls on costs

By @ibtimes on

Kellogg Co reported a lower quarterly profit on Wednesday, hurt by higher costs for ingredients such as wheat and dairy and brand investments.

The cereal and snack maker, whose brands include Frosted Flakes and Pop Tarts, reported net income of $366 million, or $1 per share, in the quarter, compared with $418 million, or $1.09 per share, a year earlier.

Net sales rose to $3.49 billion, from $3.32 billion a year earlier.

(Reporting by Martinne Geller, editing by Maureen Bavdek)

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