Refrigerated yogurt, frozen pizza, frozen vegetables and more contributed to "strong growth" during fiscal 2009 atGeneral Mills Inc . The Minneapolis-based company saidnet sales grew 8 percent to $14.7 billion with volume (measured in pounds) contributing two points of growth during the year ended May 31, 2009. Officials said net earnings grew 1 percent to $1.3 billion.
Commenting on year-end segment results, General Mills said Yoplait posted a 14 percent net sales increase, fueled double-digit growth for Yoplait Light reduced-calorie yogurt. Pillsbury USA division net sales rose 12 percent, including strong growth from Totino's pizza and pizza rolls, Pillsbury refrigerated dough products and new Pillsbury Savorings frozen appetizers. Meals division sales increased 8 percent, led by dinner mixes and Green Giant frozen vegetables.
"In today's very challenging economic environment, our leading food brands offer the quality, convenience and value that consumers are looking for and, as a result, our businesses are showing strong growth," noted Ken Powell, General Mills chairman & CEO. "In 2009, we held our margins in the face of sharply higher input costs and we significantly increased the level of consumer marketing support for our brands."
Refrigerated, frozen fuels General Mills' gains
July 1, 2009