US food group Post Holdings has lowered its forecast for annual adjusted Ebitda.
The company pointed to costs linked to M&A, a lag in volumes at pasta arm Dakota Pasta Growers and pressure on US breakfast cereal sales.
«The updated adjusted Ebitda guidance reflects adjustments for continued holding company costs supporting M&A activity, delays in new business volume at Dakota and softness in the ready-to-eat cereal category in Post’s second fiscal quarter», the firm said in a statement.
On Dakota, management advised it expected to «return to historical volume levels in 2015» thanks to a «strong pipeline». On cereal, management said it believed the category would «return to a single-digit growth rate in 2015».
Post’s fiscal year runs to the end of September. In the 12 months to the end of September last year, it generated adjusted Ebitda of $ 216.7m.