General Mills posts higher network profit

For the fourth fourth ended May 31, network profit representing the maker of Cheerios cereal and Progresso soup was $358.8 million, or $1.07 per share, compared with $185.2 million, or 53 cents a share, a year earlier.

Excluding a deprivation on outcome lines divested in the fourth fourth and the mark-to-market effects in 2008 and 2009, the companionship earned 86 cents a share.

Net sales rose 5 percent to $3.6 billion.

For the contemporary pecuniary year, the companionship expects earnings of $4.20 to $4.25 per share, assuming no mark-to-market impact.

Shares of the companionship closed at $56.02 Tuesday on the New York Stock Exchange.

(Reporting close by Bhaswati Mukhopadhyay in Bangalore; Editing close by Himani Sarkar)