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General Mills: targets confirmed, share price rises

( - On Tuesday, General Mills confirmed its full-year targets after providing an update on its "Accelerate" strategic plan at the "CAGNY" (Consumer Analyst Group of New York) conference, currently being held in Boca Raton (Florida).

The American food group is still targeting stable, or even slightly down by 1%, net sales on an organic basis for the current year.

It is also forecasting an increase of 4% to 5% in adjusted operating income, as well as in earnings per share (EPS) at constant exchange rates.

We are confident in our 'Accelerate' strategy and remain focused on the growth of our brands", said CEO Jeff Harmening at the consumer goods conference.

The Minneapolis-based group - which owns the Cheerios, Häagen-Dazs and Old El Paso brands, among others - points out that it has generated average annual growth of 12% in total shareholder return over the last five years, outperforming the sector.

At 10:30 a.m., the stock was up 2.6%, while Wall Street was down 0.6% on average.

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