Kellogg’s 136% profit plunge for the fourth quarter (Q4) is disappointing and can mainly be attributed to continued poor performances in Special K and Kashi, its CEO says.
A global cluster of the top 100 companies from the packaging, paper and forest industry saw their collective returns slump from profits reaching $14bn in 2007 to a record loss of $8bn in 2008.
Higher volume food and beverage flavour product sales to existing
customers contributed to a net increase for the third quarter for
flavours company Technology Flavors & Fragrances.