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Current Position:Home » News » Processed Foods » Bakery & Cereals » Topic

Post Holdings Q2 net income drops 64%

Zoom in font  Zoom out font Published: 2012-05-26  Origin: FBR
Core Tip: Post Holdings, a US-based producer of ready-to-eat cereal products, has reported that its net income for the second quarter ended 31 March dropped 64% to $10.5m, compared to $29.1m the previous year.
The low income could be attributed to higher ingredient costs, high investment in advertising, low cereal sales and expenses due to its spinoff from Ralcorp.

Post's revenue declined to $250.5m from $259m.

The company noted that its cereal sales declined as consumers were discouraged by the higher prices and turned to quick-service restaurants. Several restaurants such as Starbucks, Subway, Burger King and other chains have expanded their breakfast menu to lure consumers.

The company's cereal sales fell by 8%; however, the decline in sales was offset by pricing actions. It experienced a drop in sales across all of its cereal products, except its Great Gains range, which registered a 25% increase in revenue due to advertising.

Earlier this year, Post Holdings separated from US-based food manufacturer Ralcorp Holding. Post cereal brands include Honey Bunches of Oats, Raisin Bran and Pebbles.
 
 
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