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.
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.