Disappointing year for Weetabix - reports falling profits - Brief Article - Statistical Data Included

Eurofood, Feb 13, 2001

Weetabix, the cereal manufacturer, has had a difficult year culminating in its profits falling to [pound]51.1m, down from [pound]53.3m generated in 1999. The disappointing results follow on from last year, when the company reported a flat year.

Weetabix, owned by Sir George Davis, also has breakfast brands such as Ready-Brek and Alpen in its stable. The cereal market has been very competitive in recent years. In the US, cereal giants such as Kellogg have been forced to diversify into snack producing to combat flat cereal markets. However, George did point to the positives to come from the year. "The most significant achievement during the year has been the rise of Weetabix to the number one sterling brand in the UK taking over from cornflakes."