June 28, 2017 / 11:08 AM / a year ago

General Mills reports 7.7 pct rise in profit

June 28 (Reuters) - Cheerios cereal maker General Mills Inc reported a 7.7 percent rise in quarterly profit on Wednesday as the company kept a tight lid on costs and cut back on promotions.

Net income attributable to General Mills rose to $408.9 million, or 69 cents per share, in the fourth quarter ended May 28, from $379.6 million, or 62 cents per share, a year earlier.

The company’s net sales fell 3.1 percent to $3.81 billion, capping two years of falling quarterly sales.

General Mills and other U.S. packaged food makers have focused on reining in costs to counter soft demand due to a shift among consumers to fresh foods and items seen as healthier.

Reporting by Sruthi Ramakrishnan in Bengaluru; Editing by Sriraj Kalluvila

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