Breakfast cereal maker Kellogg Co reported a 23% rise in quarterly profit as consumers in North America and Europe stocked up on its packaged foods amid coronavirus-driven lockdowns.
Net income attributable to the Battle Creek, Michigan-based company was $347 million, or $1.01 per share, for the first quarter ended 28 March, compared with $282 million, or 82 cents per share, a year earlier.
Quarterly net sales dropped to $3.41 billion from $3.52 billion last year, hurt by the sale of its Keebler cookie business and some other assets to Nutella maker Ferrero SpA.
