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ConAgra Foods profit drops 13% in quarter Add to ...

ConAgra Foods Inc. said yesterday that strong sales of Healthy Choice and Banquet frozen meals and Hebrew National hot dogs helped boost revenue in its fourth quarter, even as profit fell 13 per cent due to the inclusion of a sold unit in last year's results. After excluding those discontinued operations from last year's results, the company's adjusted profit soared. "We told you we expected a strong finish for the fiscal year, and that's exactly what happened," said CEO Gary Rodkin on a conference call with investors. Mr. Rodkin said several new products in the company's consumer-foods division has rolled out to grocers led to a jump in revenue and profit.

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