December 22, 2009

Profit up for ConAgra in second quarter 

ConAgra Foods' fiscal second-quarter earnings jumped 43% amid lower commodities costs and market-share gains at its consumer-foods business.

Results beat analysts' expectations, and the company again raised its earnings forecast for the year, this time by 3 cents to US$1.73 a share, to reflect a strong first-half performance.

Packaged-food makers' sales have benefited this year as consumers eat more meals at home and as commodities prices have retreated from peaks last year. ConAgra is among the companies selling consumer staples that have raised their dividends in recent months.