General Mills Reports 12% Drop In Earnings

Fri., June 27, 1997

Associated Press

General Mills Inc. said Thursday profits fell in the latest quarter on lower cereal prices and the cost of buying Ralcorp cereal brands, including Chex.

General Mills, which makes Cheerios, Lucky Charms, Betty Crocker dessert mixes and Yoplait yogurt, on Thursday reported a fiscal fourth-quarter profit of $68.2 million, or 42 cents per share, down 12 percent from $77.5 million, or 49 cents a share, a year earlier.

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General Mills Reports 12% Drop In Earnings

Jesse Tinsley

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