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general mills AR2005
This document provides an overview of General Mills' annual report for 2005. It highlights that General Mills saw 2% sales growth to $11.2 billion globally. Net earnings increased 18% to $1.2 billion, including proceeds from divesting two businesses. The US Retail segment achieved $7.8 billion in sales, while the Bakeries and Foodservice segment saw stabilizing profits. The International segment grew net sales 11% and operating profits over 40%. General Mills also strengthened its balance sheet by paying down $2 billion in debt. The company expects continued growth through product innovation, expanding channels, and international and margin expansion.
