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General Mills on Wednesday reported net earnings after tax grew 93 percent to $358.8 million, while net sales grew 5 percent to $3.6 billion.
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The earnings reflected a net gain from mark-to-market valuation of certain commodity positions and a lower fourth-quarter tax rate, the company said in a released statement.
The company reported that the full year of fiscal 2009 net earnings were up 1 percent to $1.3 billion while net sales grew 8 percent to $14.7 billion.
in full fiscal 2009, up 8 percent and 1 percent respectively. Revenue was $14.7 billion while earnings were $1.3 billion.
"Our businesses are showing strong growth," said Chairman and Chief Executive Officer Ken Powell in a released statement today. He said he expects "another year of good growth" in fiscal 2010.
The company announced Monday it will raise its quarterly dividend 9.3 percent even as other companies have been cutting payments
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