General Mills Inc (NYSE:GIS) saw its share take a dip in premarket trade after the company’s announcement listing its financial targets for the fiscal year ending May 2018 failed to excite the market.
The Cheerios cereal, Pillsbury Dough and Haagen-Dazs group said that it expects organic net sales to decline between 1% and 2% from 2017 levels and total segment operating profit in constant currency to range between flat and up 1%.
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The company also expects adjusted operating profit margin to rise over year-ago levels and fiscal 2018 adjusted diluted earnings per share to increase between 1% and 2% in constant currency.
General Mills however did warn that the latter measure excludes certain items affecting comparability.
In premarket trade, its shares were down 1.77% at US$54.67.