General Mills quarterly profit drops 3 pct
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Sept 18 (Reuters) - General Mills Inc's quarterly profit fell 3 percent on Tuesday, as the maker of Cheerios cereal battles rising freight and commodity costs.
Net income attributable to the company fell to $392.3 million, or 65 cents per share, in the first-quarter ended Aug. 26, from $404.7 million, or 69 cents, a year earlier.
The company's net sales rose nearly 9 percent to $4.09 billion, boosted by its acquisition of pet food company Blue Buffalo. (Reporting by Aishwarya Venugopal in Bengaluru; Editing by Shounak Dasgupta)
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