Cash-strapped consumers looking for cheap meals helped push cereal maker General Mills Inc.'s fiscal second-quarter profit 50 percent higher.
The maker of Cheerios and Yoplait yogurt also boosted its full-year earnings guidance for the second time in three months following the strong quarter.
General Mills has posted several strong quarters as ingredient prices dropped and recession-weary consumers eat at home more often to save money.
"Consumers around the world continue to focus on nutritious, convenient food choices that help them make breakfast, lunch and dinner for their families at good value. Demand for our leading brands remains strong," Chairman and CEO Ken Powell said in a statement Thursday.
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