US packaged foods group General Mills has reported a 60% rise in second-quarter net sales to US$2.95bn, including the incremental contribution from the Pillsbury business that was acquired 31 October 2001.
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Comparable net sales for the thirteen weeks ended 24 November 2002, as if General Mills had owned Pillsbury for all of the previous year, grew 5%.
Second-quarter earnings after tax before unusual items grew 46% to reach $290m. Including unusual items earnings after tax more than doubled to $276m.
Chairman and chief executive officer Steve Sanger said the company was well on track to meet or beat the goals it set back in June for strong top-line and bottom-line growth in fiscal 2003.
