General Mills Posts 3.9% Gain in Profit

General Mills Inc., the No. 2 U.S. cereal maker and the nation’s biggest yogurt company, said fiscal fourth-quarter profit rose 3.9% and forecast a gain of at least 10% in per-share earnings next year. Net income for the maker of Cheerios cereal and Yoplait yogurt rose to $108.9 million, or 37 cents a share, from $104.8 million, or 33 cents, a year earlier. Analysts polled by First Call/Thomson Financial had expected profit of 36 cents. Sales in the quarter ended May 28 increased 5.6% to $1.69 billion from $1.6 billion. Shares of Minneapolis-based General Mills rose 31 cents to close at $38.63 on the NYSE.