Kellogg's releases end-of-year results

Cereal manufacturer Kellogg's has reported a drop in net sales in its 2009 end-of-year results.

The company's international business saw a decrease of seven per cent in net sales year-on-year, but said internal sales increased by three per cent.

In North America the company saw an increase in one per cent in net sales and a three per cent increase in internal net sales.

Overall net sales of the year across the company were down two per cent.

David Mackay, chief executive officer of the company, said that Kellogg's managed to 'continue its momentum in 2009'.

"We maintained our focus on building and strengthening our core business, while successfully completing the first year of our three-year billion dollar plus cost reduction challenge," he explained.

Kellogg's announced recently that it will be reducing the levels of salt in a number of its major cereal brands, including Corn Flakes and Rice Krispies, by around 30 per cent.

Posted by Jason Webster.