(CercleFinance.com) – General Mills on Wednesday raised its sales and profit forecasts for the full year, encouraged by its performance over the past quarter and by its ability to adapt to an environment deemed ‘volatile’.
The maker of Häagen-Dazs ice cream and Yoplait yogurt, among other products, now says it expects organic net sales growth of between 6% and 7% in the current fiscal year.
The Minneapolis group has so far forecast annual organic sales up 4% to 5%.
It also expects its adjusted earnings per share to grow between 2% and 5% at constant exchange rates, compared to a previous range that went from flat to up 3%.
In its first fiscal quarter, ending at the end of August, its turnover reached 4.7 billion dollars, an increase of 4%, including +10% in organic data.
Its EPS increased by 32% to 1.35 dollars, which corresponds to a figure of 1.11 dollars on an adjusted basis.
For comparison, analysts were expecting sales around $4.7 billion and EPS at exactly one dollar.
Following this publication, General Mills shares jumped more than 7% on Wall Street on Wednesday.
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