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General Mills, Inc.
Corporate Summary:
General Mills posted a healthy performance in fiscal 2001, with sales progressing nearly 6% to reach US$7.1 billion. Growth was driven by strong demand for its Big G cereals, Yoplait and Columbo yoghurt brands, Betty Crocker products, snack foods and foodservice products.
Internationally, General Mills also made strong inroads in fiscal 2001, stepping up activities in the UK, Mexico and China. As part of its growth strategy, General Mills continued to innovate in 2001 and thus the release of new products such as Wheaties Energy Crunch and Big F Milk 'n Cereal Bars further spurred sales gains. The rate of growth was slower than that of previous years for the company, due to a reduction in acquisition activity.
General Mills pursued a cost-containment strategy during the review period, in order to build in greater efficiencies into its production processes. Whilst this has resulted in improvement in the company's margins, operating profits in 2001 were restrained by investment in new product development and higher energy costs that plagued a number of food companies in the US. As a result, operating profit moved ahead at a slightly lower rate than that for sales, at 5.4% in fiscal 2001 to reach US$998 million.
Contact Details:
General Mills, Inc.
1 General Mills Blvd,
Minneapolis, MN 55426,
United States
Tel: +1 763 764 7600
Fax: +1 763 764 7384
Website: http://www.generalmills.com/ | 
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