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A-Brands

General Mills Reaffirms Full-Year Outlook

By Steve Wynne-Jones
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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.

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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.

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