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Continued: General Mills posts solid increase in 3rd quarter profits

  • Article by: MIKE HUGHLETT , Star Tribune
  • Last update: March 21, 2013 - 6:20 AM

General Mills international sales rose to $1.3 billion, including a 20 percentage point gain from new businesses, notably the 2012 acquisition of Brazilian food maker Yoki Alimentos.

But the international segment’s operating profit was flat over a year ago, due to a currency devaluation in Venezuela, which has forced U.S. firms doing business there to adjust their balance sheets. Without the devaluation, General Mills’ international profits were up 16 percent over a year ago.

 

Mike Hughlett 612-673-7003 •

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