Minneapolis — General Mills, Inc. saw a seven percent increase in net sales from fiscal year 2012 to 2013, the company reports, and an eight percent increase in net sales for the fourth quarter of FY 2013 from the year prior.
General Mills Chairman and CEO Ken Powell says: “Our 2013 results reflect good growth from established product lines and important contributions from new businesses added during the year. Each of our three operating segments [U.S. Retail, International and Bakeries and Foodservice] posted profit growth.”
Net sales totaled $17.8 billion in 2013 and $4.4 billion in the fourth quarter. Retail net sales reached $10.6 billion in fiscal 2013, a one percent increase, while the segment grew two percent in the fourth quarter to $2.5 billion.
Operating profit for the quarter was at $517 million, aided by growth in the snacks division, according to General Mills. Operating profit for the year increased 11.3 percent to $2.8 billion.