General Mills Reaffirms Full-Year Outlook
General Mills has 'reaffirmed' its full year financial outlook for the fiscal year ending May 26, 2019, the company said in a statement.
The Yoplait and Häagen-Dazs parent issued the statement to coincide with the Barclays Global Consumer Staples Conference, taking place in Boston this week.
It said that it expects net sales to increase 9% to 10% on full-year 2018 levels, with organic net sales ranging between flat and 1% growth.
Operating Profit Gains
Operating profit is expected to rise between 6% and 9%, at constant currency levels.
Fiscal 2019 adjusted diluted earnings per share (which excludes certain items affecting comparability) are expected to range between flat and down 3% at constant currency levels, the company said.
The company's fiscal 2019 outlook for organic net sales growth excludes the effect of acquisitions and divestitures, it added.
In 2018, General Mils generated consolidated net sales of $15.7 billion (€13.49 billion), as well as generating another $1.1 billion from its proportionate share of joint-venture net sales.
© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: European Supermarket Magazine.