General Mills 4th quarter profit doubles

On Wednesday, General Mills Inc said that there has been a 200% increase in its fourth-quarter profit. It seems like the consumers still crave for famous products by General Mills such as Cheerios cereals and Yoplait yogurt.

Ken Powell, chairman and CEO, said that due to recession, consumers are encouraged to buy General Mills products. Furthermore, it also seems that latest marketing efforts that were employed to convince shoppers to try cheaper store brands seem to be working.

Ken Powell said, “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.”

In the last three months, General Mills earned approximately $360 million which is $185 million more than last year.