General Mills Projects Annual Profit That Trails Estimates
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General Mills Inc., the maker of Cheerios cereal and Pillsbury baked goods, projected full-year profit that trailed analysts’ estimates amid increased marketing and investments in its U.S. yogurt business.
Profit for fiscal 2013, including a decrease from its acquisition of Yoki Alimentos SA, will total $2.65 a share, the Minneapolis-based company said today in a statement. Analysts projected $2.76 a share, the average of 18 estimates compiled by Bloomberg.