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General Mills: Q2 in line with expectations

(CercleFinance.com) - General Mills, whose brands include Häagen-Dazs ice-cream and Yoplait yoghourt, reported Q2 2017-18 (ended 26 November) adjusted EPS of 82 cents, down 4% (-5% at constant exchange rates), although in line with the consensus.

The agri-food group saw its operating profit fall by 5% to 730 million dollars, meaning a deterioration of its gross margin, which has only partly been offset by a 2% rise in its revenues to 4.2 billion dollars (+1% in organic terms).

For FY 2017-18, General Mills' management has raised its organic sales growth target to between -1% to 0, compared with a previous target range of -2% to -1%.

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