Accounts: Kelloggs' profits fall
THE IRISH branch of cereal company Kelloggs recorded a 57pc drop in pre-tax profits.
The subsidiary outlined that profits fell to just €7.3m as revenues increased by 6pc.
But accounts show the Dublin based company paid an interim dividend of €23.4m during the year -- reducing the company's accumulated profits to €7m at year-end.
Kelloggs established its Irish base in Swords in 2004 to serve the company's Europe, Middle East and Africa operation.