LONDON (ShareCast) - (Sharecast News) - US cereal maker Kellogg's sales rose for a third consecutive quarter as the maker of Corn Flakes and Nutri Grain was given a boost by the increased number of consumers that were shifting toward healthier food options.
Kellogg saw net sales rise 4.7% to $3.40bn for the first three months of the year, and beating analysts' forecasts of $3.30bn, bringing the group's net income to $444m for the period, or $1.27 per share, for a 66% improvement year-on-year.

The Michigan-based food manufacturer credited its sales growth on an increased share of the US frozen foods market and higher Pringles sales across the glob.

Management also highlighted continued progress at stabilising Special K sales in key markets as consumers moved away from more sugary cereals, such as Froot Loops and Cocoa Pops.

Earlier in the week, Kellogg expanded its West African partnership with Singaporean consumer goods business Tolaram by making an additional $420m investment.

"Expansion in emerging markets is an important element of our growth strategy," said Kellogg's chief executive Steve Cahillane.

Kellogg also upped its guidance on Thursday, saying it was now expecting a 3% to 4% increase in net sales growth, and a 9% to 11% expansion in its adjusted earnings per share, both on a currency-neutral basis.

As of 1400 BST, Kellogg shares had picked up 4.13% in pre-market trading to $56.65 each.

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE