Reuters: Global Markets: General Mills profit falls; sales rise with new products

Reuters: Global Markets Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Fun with Brazilian Portuguese Learn the tips and tricks to speak colloquial Portuguese in a natural and confident manner. Enroll today for just $69! From our sponsors

General Mills profit falls; sales rise with new products Sep 18th 2013, 11:45 Tweet Share this Email Print Related Topics Hot Stocks » Asian Markets » General Mills cereals are displayed on a market's shelf in New York, March 24, 2010. Credit: Reuters/Brendan McDermid Wed Sep 18, 2013 7:45am EDT (Reuters) - General Mills Inc (GIS.N) reported lower quarterly earnings on Wednesday, but the maker of Cheerios cereal and Progresso soups said sales rose due to the addition of new businesses. Net income fell to $459.3 million, or 70 cents per share, in the first quarter ended on August 25 from $548.9 million, or 82 cents per share, a year earlier. Excluding special items, earnings per share rose to 70 cents from 66 cents. The results met the analysts' average estimate, according to Thomson Reuters I/B/E/S. Net sales rose 8 percent to $4.37 billion. The company said the addition of new products such as Yoplait Greek yogurt and Pillsbury gluten-free dough in the previous year contributed 5 percentage points to sales growth. These products were gained through the acquisitions of Yoki Alimentos in Brazil and Yoplait International last year. The company affirmed its fiscal 2014 outlook of $2.87 to $2.90 per share, excluding special items. (Reporting by Atossa Araxia Abrahamian; Editing by Lisa Von Ahn) Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions