ConAgra: reports strong brand volumes

Omaha / NE. (caf) ConAgra Foods Inc. whose brands include Banquet, Orville Redenbacher popcorn and Healthy Choice, says that its first-quarter profit rose 5,2 percent as sales increased 9,9 percent. Profit for the quarter that ended August 26 rose to 175,4 million USD, or 36 cents a share; from 166,7 million USD or 33 cents a share in the period a year ago. Results include two cents a share in reorganization charges. Revenue rose to 2,96 billion USD, from 2,69 billion USD last year. ConAgra´s revamping plan involves shifting the company´s focus to the brands executives believe have the most potential, like Healthy Choice, Chef Boyardee and Egg Beaters. In the last two years, the company has sold its refrigerated meats, seafood and cheese businesses – including brands like Butterball, Cook´s and Louis Kemp (press release).