October 31, 2018 / 12:27 PM / 14 days ago

Kellogg cuts full-year profit outlook

Oct 31 (Reuters) - Kellogg Co cut its full-year profit outlook on Wednesday, as the cereal maker spends more on advertising and faces higher distribution costs.

The company said it now expects its full-year adjusted earnings per share to increase in the range of 7 percent to 8 percent, down from the prior outlook of a 11 percent to 13 percent rise.

Net income attributable to the company rose to $380 million, or $1.09 per share, in the third quarter ended Sept. 29, from $288 million, or 83 cents per share, a year earlier. (bit.ly/2AEO7sX) (Reporting by Uday Sampath in Bengaluru; Editing by Arun Koyyur)

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