ConAgra: sees Q3/2008 profit above expectations

Omaha / NE. (caf) ConAgra Foods Inc. said it expects fiscal third quarter 2008 earnings from continuing operations to come in higher than initially anticipated. The Omaha, NE-based packaged foods company cited a better-than-expected performance from its trading and merchandising divisions as well as its food and ingredients operations for the revised forecast. It did not offer specific guidance on the quarter, but noted that it had previously said it expects second half earnings per share to be around 0,70 USD a share on an adjusted basis, with the third quarter a bigger contributor to profit than the fourth. Looking ahead, the company see annual earnings per share growth between eight percent and ten percent. Sales growth is seen exceeding four percent in the near term and in the range of four percent over the long term (news release).