General Mills Profit More Than Doubles
From Bloomberg News
General Mills Inc., the largest U.S. cereal maker, said second-quarter earnings more than doubled as last year’s acquisition of Pillsbury led to cost savings and increased sales. The company raised its annual forecast.
Net income climbed to $276 million, or 73 cents a share, from $131 million, or 41 cents, a year earlier. Sales increased 60% to $2.95 billion.
Shares of Minneapolis-based General Mills climbed $1.09 to $45.98 on the NYSE.
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