date:May 24, 2012
tober last year for $545m.
However, overall operating profit was down almost 9% to $105.3m as volumes declined and the companys cereal segment suffered.
Cereal factory to undergo rescaling
Despite a 11% sales boost for the cereal segment, operating profit fell 10% due to high margins.
The company recently closed its factory Los Alamitos, California for failing tomeet minimum margin requirements. It also hinted at further restructuring.
The lower operating profit for the quarter reflects man