Despite the growing popularity of its cereals and Pringles pushing sales beyond the £1bn mark, the combined 海角视频 operations of Kellogg’s have slipped into a loss. The company operates two separate entities in the 海角视频 from its Salford headquarters: Kellogg Marketing and Sales Company (海角视频) and Kellogg Company of Great Britain.
Following the rebranding and splitting of the group's ultimate parent company last year, favourites such as Pringles, Pop-Tarts and Nutri-Grain now fall under the Kellanova brand, joining Frosties, Special K and Coco Pops. Newly-filed accounts with Companies House for 2023 show that Kellogg Marketing and Sales Company (海角视频) reported a turnover of £975.5m, an increase from £913.9m in 2022, as reported by .
Its pre-tax profit also rose from £24.1m to £28.5m over the same period. However, accounts for Kellogg Company of Great Britain reveal its turnover remained steady at £143m, but it shifted from a pre-tax profit of £13.6m to a loss of £61m.
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Despite the loss, Kellogg Company of Great Britain issued a dividend of £176.1m in the year. These accounts were filed with Companies House later than the 30 September deadline.
This news follows Kellogg’s confirmation in May of plans to shut its Manchester-based factory, resulting in the loss of hundreds of jobs. The company announced it would close its Trafford Park factory towards the end of 2026, leading to around 360 job losses.
The Wrexham factories and Salford headquarters of the company, which currently provide employment for approximately 1,000 individuals, remain unaffected by this development. The financial statements have been disclosed following the August announcement that Mars, the conglomerate known for brands such as M&M's, Snickers, and Skittles, agreed to acquire food behemoth Kellanova for $35.9bn (£27.9bn).
Kellanova came into existence after Kellogg Co, established in 1906, divided into three separate entities. The transaction is anticipated to be finalised in the first half of the forthcoming year.
In a statement endorsed by the board, Kellogg Marketing and Sales Company commented: "Growth in turnover was primarily driven by an increase in snacks net sales, led by sustained momentum in Pringles, driven by innovation, effective advertising and successful consumer promotions."
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"Cereal net sales were also up in the year, however, partially offset by unfavourable foreign currency."
"Reported operating profit increased primarily due to overall higher sales, which was driven by both volume and price mix."
"The directors are confident that with the pipeline of commercial initiatives, product innovation and various growth and efficiency programmes, the business will be well positioned for the future."