29.06.2016 - Shares of General Mills are likely to fall this year
The company General Mills announced decline in profits amid falling domestic demand and the negative impact of a stronger US dollar on the international market. This year the company expects that sales will remain at the same level or decrease by 2%. As a result, for the quarter that ended May 29, profit totaled 379.6 million dollars against 186.8 million dollars during the same period last year. Revenue fell 8.6% to 3.93 billion dollars. Our forecast for the near future is negative with drop potential by 12-15%, despite a possible rise in the coming days.