General Mills has said that its full year results will exceed targeted levels thanks to a strong fourth quarter performance.
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In the three months ended 25 May General Mills said net sales increased 13%. The company said that this would likely result in a 10% increase in full year sales, which are expected to grow to US$13.7bn.
Despite rising costs and an increased marketing spend, operating profits are expected to grow in the mid-single digits. General Mills said it anticipated EPS of $3.52, up 11% year-on-year.
Looking to 2009, General Mills predicted mid single-digit sales and earnings growth. The company predicted EPS of $3.78-$3.83.
General Mills will release its results for fiscal 2008 next week (25 June).
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