General Mills Profit Tops Estimates on Sales Abroad
Net income rose 35 percent to $548.9 million, or 82 cents a share, from $405.6 million, or 61 cents, a year earlier, the Minneapolis-based company said today in a statement. Excluding some items, profit totaled 66 cents a share. Analysts projected 62 cents, the average of 17 estimates compiled by Bloomberg.
International sales increased 27 percent to $1.09 billion. On a constant-currency basis, sales gained 51 percent in Europe and 28 percent in Canada. Results were helped by its Yoplait International acquisition, General Mills said. Total sales rose 5.3 percent to $4.05 billion.
To contact the reporter on this story: James Callan in New York at firstname.lastname@example.org
To contact the editor responsible for this story: Robin Ajello at email@example.com
Bloomberg moderates all comments. Comments that are abusive or off-topic will not be posted to the site. Excessively long comments may be moderated as well. Bloomberg cannot facilitate requests to remove comments or explain individual moderation decisions.