General Mills expects increase of its fiscal 2008 profit due to higher sales and cost cuttings

General Mills Inc., the second-largest U.S. cereal maker, raised its fiscal 2008 profit forecast, citing sales growth and cost savings.

Photo: General Mills expects increase of its fiscal 2008 profit due to higher sales and cost cuttings

The Company of Champions reported today in a Business Wire statement it expects to gain $3.64 to $3.66 a share. That includes one-time items of 19 cents.

The company also said Tuesday it raised its goals for 2010 net sales, segment operating profit and earnings per share.

General Mills is a Fortune 500 corporation, mainly concerned with food products, which is headquartered in Golden Valley , Minnesota , a suburb of Minneapolis . The company markets several well-known brands, such as Betty Crocker, Yoplait, Colomb, Totinos, Jeno's, Pillsbury, Green Giant, Old El Paso, and Cheerios, to name a few. Their brand portfolio includes more than 100 leading U.S. brands and numerous category leaders around the world. On average, U.S. shoppers place at least one General Mills product into their shopping cart each time they visit the grocery store.