Kellogg Company has announced solid operating profit growth for the full year and Q4 2009.
Reported earnings for full year 2009 were $1.2 billion, or $3.16 per diluted share, an increase of 6% from full year 2008 of $1.1 billion, or $2.99 per diluted share which included a 53rd week in the fourth quarter of 2008.
On a currency neutral basis, full year 2009 earnings per share grew 13%. Reported earnings in the fourth quarter of 2009 were $176 million, or $0.46 per diluted share, compared with $179 million, or $0.47 per diluted share in the fourth quarter of 2008.
"We continued our momentum in 2009, delivering another year of growth despite facing one of the most challenging economic environments in decades," said David Mackay, the Kellogg Company's chief executive officer. "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."
Source: Kellogg Company
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