General Mills Profits Rise

General Mills, food maker, managed a slightly higher profit in its latest quarter. The company that makes Cheerios cereal, Yoplait yogurt and Progresso soup also affirmed its earnings guidance for the full year, saying it has plans in place to counter what it expects will be continued increases in grain, dairy and energy costs. Golden Valley-based General Mills Inc. earned $390.5 million, or $1.14 per share, in the fiscal second quarter of 2008, ended Nov. 25 vs $385.4 million or $1.08 per share in the year earlier period. Revenue climbed 7 percent to $3.70 billion from $3.47 billion a year earlier on strength across all segments.