Friday June 29, 2012
General Mills Reports Q4,
Fiscal Year Revenue Growth
Minneapolis — General Mills, Inc.’s snacks division saw net U.S. sales growth of 15 percent in the fourth quarter, compared with the same period a year ago. Category growth was led by Fiber One and Nature Valley snack bars, the company says.
Meanwhile, the Small Planet Foods division, which is the company’s organics line and includes snack bars, saw 19 percent sales growth year-on-year.
New products accounted for five percent of U.S. retail delivery volume, a trend the company says it hopes to continue by increasing investment in R&D, particularly for the wholesome snack bars segment.
Additionally, fiscal 2012 net sales for the U.S. retail operation grew three percent year-on-year, reaching $10.5 billion, but pound volume fell for the same period, which the company attributed to the combination of brand acquisitions, input-cost inflation and constrained consumer budgets.
Overall net sales for fiscal 2012 grew 12 percent, reaching $16.7 billion. During that time, General Mills completed four acquisitions, including Food Should Taste Good in the U.S. and Yoki Alimentos S.A, in Brazil.