Profits up at Kellogg’s owner Kellanova as it announces closure plans

On the day it announced plans to close its Trafford Park Kellogg’s plant, food giant Kellanova also announced rising profits.
The group reported sales of $3.1bn for the last quarter of 2023 – up 0.3% on the same period in 2022. That gave it a reported quarterly operating profit of $328m – up 27.5% on last year.
Annual sales were $13.1bn, up 3.7% on 2022. That led to an annual reported operating profit of $1.5bn, up 24.3%.
Kellanova yesterday said it was proposing to close Trafford Park by the end of 2026, putting 360 jobs at risk. The group said the plant was outdated and had no long-term future. But it said Greater Manchester “would remain its British home” as 520 staff at its MediaCity HQ and tech hub are unaffected by today’s announcement.
Kellanova was fo …