Arab Today, arab today kellogg sticks to revenue target for 2011
Last Updated : GMT 15:45:40
Arab Today, arab today
Arab Today, arab today

Kellogg sticks to revenue target for 2011

Arab Today, arab today

Arab Today, arab today Kellogg sticks to revenue target for 2011

New York - Arabstoday

Kellogg Co stood by its 2011 earnings target despite beating expectations in the second quarter, as price increases that it made to offset higher ingredient costs could hurt demand.Kellogg, the world’s largest cereal maker with brands including Corn Flakes, Frosted Flakes and Rice Krispies, also said it will raise its capital spending this year by more than $100 million. It plans to use that money to improve infrastructure and equipment after a recall of millions of boxes of cereal last year because of an unusual smell.The company said it plans to spend more money over the next couple of years. That kind of investment has been important for Kellogg’s success in the past and would be useful again, said Edward Jones analyst Matt Arnold.“I wouldn’t be at all bothered if they used 2011 to do that,” he said. “They kind of need to reassert themselves as a consistent player again after having a pretty dicey 2010.”Kellogg expects its full-year cost inflation to be around the high end of its 7 per cent to 8 per cent forecast. The company is 90 per cent hedged on commodities, but cited the impact of higher spot prices for the remaining 10 per cent. Kellogg shares were nearly flat in midday trading.Kellogg expects 2011 net sales to grow 4 to 5 per cent, compared with an earlier forecast of 4 per cent. For the second half of the year, Kellogg said sales growth should come from higher prices, which may cause shoppers to buy fewer of its cereals and other products, which include Pop-Tarts and Keebler cookies. Kellogg said volume should be down slightly in the second half of the year and about flat for the whole year.Investors may have thought Kellogg had an easy second half of the year, and that keeping the forecast unchanged was a sign of conservatism, Chief Executive John Bryant said.The company stood by its target for low single-digit profit growth for the year, saying that implied earnings of $3.42 to $3.49 per share, including a gain of 9 cents from foreign currency exchange.Net income was $343 million, or 94 per share, in the second quarter, compared with $302 million or 79 cents per share a year earlier. Analysts on average were expecting 91 cents per share, according to Thomson Reuters. From / Gulf Today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today kellogg sticks to revenue target for 2011 Arab Today, arab today kellogg sticks to revenue target for 2011

 



Arab Today, arab today
Arab Today, arab today Mohamed Bahari prepares new collection for spring 2017

GMT 06:15 2017 Monday ,27 February

Mohamed Bahari prepares new collection for spring 2017
Arab Today, arab today As Olympics loom,China plunges into biz

GMT 10:08 2017 Tuesday ,28 February

As Olympics loom,China plunges into biz
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today UN envoy sets out framework

GMT 07:25 2017 Monday ,27 February

UN envoy sets out framework
Arab Today, arab today Kalam Nawaem made a difference in social issues

GMT 06:43 2017 Tuesday ,28 February

Kalam Nawaem made a difference in social issues
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Parliament considers solutions to overpopulation

GMT 20:27 2017 Monday ,27 February

Parliament considers solutions to overpopulation
Arab Today, arab today Humans spark most US wildfires

GMT 14:58 2017 Tuesday ,28 February

Humans spark most US wildfires
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Final Phantom VII signals end of an era

GMT 14:31 2017 Tuesday ,28 February

Final Phantom VII signals end of an era
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Aspires present the story of Egypt’s first president

GMT 06:18 2017 Sunday ,26 February

Aspires present the story of Egypt’s first president
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos

GMT 06:42 2017 Saturday ,25 February

Reasons for the delay 'On the Stairs of Servants'

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 10:51 2017 Saturday ,25 February

Pigs with edited genes show resistance

GMT 18:28 2017 Saturday ,25 February

Tourist guide explains types of tourism

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 06:28 2017 Tuesday ,28 February

Dumbphones survive rise of the smartphone

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday