ConAgra profits rise five percent in 4Q

OMAHA, Neb. – ConAgra Foods Inc. said Thursday that its earnings for the fiscal fourth quarter rose five percent, supported by contributions from the commodity trading unit that was recently sold.

The Omaha-based company earned $201 million for the quarter, compared to $192 million for the same quarter last year.

ConAgra said its revenue jumped 15.2 percent, to $3.08 billion in the fourth quarter. That's below the $3.4 billion revenue analysts surveyed by Thomson Financial reportedly expected.

ConAgra said that it expects it will earn between $1.56 and $1.59 per share during fiscal 2009. Most of ConAgra's profit from discontinued operations reportedly came from its trading and merchandising group that buys and sells agricultural commodities, fertilizer and energy.

Source: Associated Press

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