General Mills profit halves due to asset impairment charge
July 1 (Reuters) - General Mills Inc, the maker of Cheerios cereal and Betty Crocker cake mixes, said fourth-quarter profit halved as it recorded an intangible asset impairment charge of $260 million.
Net earnings attributable to General Mills fell to $186.8 million, or 30 cents per share, in the quarter ended May 31 from $404.6 million, or 65 cents per share, a year earlier.
Revenue rose slightly to $4.30 billion from $4.28 billion.
(Reporting by Ramkumar Iyer in Bengaluru; Editing by Savio D'Souza)
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