General Mills Inc. posted a 15 percent higher profit for its third quarter, thanks to strong sales. General Mills Inc. trades on the “New York Stock Exchange” under the stock symbol “GIS”. For More information regarding the "GIS", make sure to visit the Most Exclusive and In Depth newsletter website at: http://www.wallstreetgrand.com/.
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General Mills Inc.(NYSE:GIS) posted a 15 percent higher profit for its third quarter, thanks to strong sales of some established cereal brands and new products such as Chocolate Cheerios.
Net income was $332.5 million, or 96 cents per share, for the period ended Feb. 28. That's up from $288.9 million, or 85 cents per share, in the same quarter a year ago.
"Results for the third quarter reflect continued good sales growth, margin strength and significant marketing reinvestment in our brands," Chairman and CEO Ken Powell said in a statement.
General Mills, based in Minneapolis, has been one of the stronger food makers in the weak economy because of sales gains from consumers looking for cheap meals and its own cost-control efforts.
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