General Mills sees slower second half sales growth

by Eric Schroeder
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MINNEAPOLIS — In a preview of its full-year outlook for fiscal 2007, executives at General Mills, Inc. delivered an important message to analysts: Don’t expect a repeat of first-half sales growth. The Minneapolis-based company said second-half sales growth would likely trail the 6% gain scored during the first half of fiscal 2007 — a figure that exceeded the company’s plans for the period — as it continues to search for ways to offset rising costs for food ingredients. In addition to higher costs, General Mills said new products would be key in the second half. The company plans to launch 80 new products during the remainder of fiscal 2007, including Disney-branded cereals and Nature Valley Cheerios.

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