Gen­eral Mills profit rises 12%

Los Angeles Times - - Business - FOOD

Gen­eral Mills Inc. said its fis­cal first-quar­ter profit rose 12% to $472.1 mil­lion, or 70 cents a share.

The Minneapolis maker of food prod­ucts such as Chee­rios and Green Gi­ant veg­eta­bles said profit ex­clud­ing some items to­taled 64 cents a share, ex­ceed­ing by 1 cent the av­er­age of an­a­lysts’ es­ti­mates com­piled by Bloomberg.

Rev­enue climbed 1.5% to $3.53 bil­lion, trail­ing the av­er­age an­a­lysts’ es­ti­mate of $3.57 bil­lion.

Gen­eral Mills re­it­er­ated its full-year profit fore­cast of as much as $2.48 a share, ex­clud­ing items such as markto-mar­ket ef­fects, up from $2.30 a year ear­lier. An­a­lysts, on av­er­age, pre­dict $2.49.

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