General Mills Posts 29% Gain in Earnings
From Associated Press
General Mills Inc. said its fiscal first-quarter earnings climbed 29% from a year earlier, as it introduced 70 new products and continued to work through its acquisition of Pillsbury.
The company acknowledged some remaining problems with combining production with the former Pillsbury brands as it earned $227 million, or 59 cents a share, for the quarter ended Aug. 24. That’s compared with $176 million, or 47 cents, a year earlier.
Net sales for the quarter were $2.52 billion, up from $2.36 billion a year earlier.
Shares of Minneapolis-based General Mills rose 63 cents to $47.73 on the NYSE.
From Associated Press
