General Mills Sees Full Year Sales, Profit Up
General Mills has reported a 3% year-on-year growth in net sales to $18.1 billion (€15.3 billion) in its financial year ended 30 May 2021.
Organic net sales increased 4%, reflecting strong execution and broad-based market share gains amid high demand for 'at-home food due to the pandemic, the Cheerios maker added.
The company's operating profit grew 6% to $3.1 billion (€2.6 billion) during the financial year, while the operating profit margin increased 50 basis points to 17.3%.
General Mills chairman and chief executive officer, Jeff Harmening, commented, "We competed effectively, generated strong top- and bottom-line growth, and further improved our balance sheet, allowing us to resume dividend growth and share repurchases.
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