General Mills reports healthy 2Q

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US food giant, General Mills Inc., reported a 4.6 per cent increase
in netincome for its fiscal second quarter and said integration
plans for itspending...

US food giant, General Mills Inc., reported a 4.6 per cent increase in netincome for its fiscal second quarter and said integration plans for itspending acquisition of Pillsbury Co. are complete as it awaits finalregulatory approval. The food maker, whose brands include Cheerios cereal andYoplait yoghurt, reported net income of $202.7 million, or 70 cents a dilutedshare, for the quarter ending November 26, compared with $193.7 million, or 62cents a share, a year earlier. Sales rose 4.3% to $1.89 billion from $1.82billion. General Mills noted the latest results were boosted by $4.8 million,or about two cents a share, in income from its portion of a class-actionsettlement of alleged price-fixing charges brought against several vitaminmanufacturers in 1999.

Related topics: Market Trends

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