(News Bulletin 247) – General Mills on Wednesday confirmed its objectives for the 2023/2024 financial year thanks to the moderation of inflation, the stabilization of supply chains and the resistance of consumption to the States -United.
The American agri-food group says it is still aiming for organic growth of 3% to 4% in its net sales for the current financial year, accompanied by an increase of 4% to 6% in its adjusted operating profit at exchange rates constants.
The Minneapolis group, which owns the Cheerios, Häagen-Dazs and Old El Paso brands, among others, points out that the growth of its product sales slowed in the United States during the first weeks of the financial year, but that it remains above pre-pandemic levels.
General Mills also explains that it is benefiting from the gradual improvement in the supply chain, with ‘disruptions’ returning to levels comparable to those before the Covid epidemic.
All of the comments come as Barclays CEO Jeff Harmening is due to attend Barclays’ Consumer Staples conference today in Boston.
The title was indicated up 1.2% Wednesday morning before the opening of Wall Street.
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