Kellogg reported that it earned $361m, or 94 cents per share, for the period ended 3 October, up from $342m, or 89 cents per share, in the same period a year earlier.

Cereal and snack food sales continued to grow, particularly in North America but the company reported that its revenue was nearly flat at $3.28bn, due in part to the effect of the fluctuating value of the dollar during the period.

Kellogg's CEO David Mackay said the company had continually emphasised the affordability of its foods for shoppers during the economic downturn.