US food giant ConAgra Foods posted a net income of US$930.6 million for fiscal 2008 ended May 25, up 22 percent from last year's US$764.6 million.

Sales reached US$11.6 billion, up 10 percent from last year's US$10.5 billion.

Strong performance in Trading & Merchandising operations in the fourth quarter with pricing and innovation as well as marketing efforts have contributed to the good results, according to ConAgra chief executive officer Gary Rodkin.

The Consumer Foods division registered an operating income of US$780.8 million for fiscal 2008, an 8-percent drop from US$847.6 million in fiscal 2007. However, sales increased 5 percent to US$6.7 billion from US$6.5 billion.

The Food and Ingredients division had an operating profit of US$511.7 million, up 18 percent from US$434.8 million from fiscal 2007. Sales also rose 21 percent on-year to US$4.1 billion from US$3.4 billion.

ConAgra's net income for the fourth quarter totalled US$201.3 million, up 5 percent on-year from US$192 million. Sales in the fourth quarter also went up 16 percent on-year to US$3.1 billion from US$2.7 billion.

In addition, ConAgra expects earnings per share from continuing operations to range US$1.56 to US$1.59 for fiscal year 2009.