Kellogg 2Q profit rises

GRAND RAPIDS — Kellogg says its profit rose 3.7 percent in the second quarter as a result of product innovation and raising prices to offset higher costs. The cereal and snack maker met Wall Street's expectations.

Battle Creek-based Kellogg said Thursday its profit was $312 million, or 82 cents a share, for the three-month period ending June 28. That's up from $301 million, or 75 cents a share, during the same period last year.

It says revenue jumped 11 percent to $3.34 billion.

Thomson Financial says analysts had expected earnings of 81 cents per share on sales of $3.27 billion. Earnings estimates typically exclude one-time items.

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Kellogg Co.: http://www2.kelloggs.com

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