USA: ConAgra Foods Posts Record Sales & Profits for Fiscal Second Quarter
ConAgra Foods (NYSE: CAG ), one of America's leading branded food companies, reported record sales and profits for its fiscal second quarter ended November 26, 2000. Sales rose 8% to $7.2 billion, operating profit increased 25% to $692 million, and net income grew 61% to $302 million. Gross and operating margins expanded substantially over the comparable period last fiscal year. The company attributed the quarter's performance to three strategies: the recently-completed acquisition of brands such as Chef Boyardee, PAM Cooking Spray, Gulden's, and Bumble Bee; growth for several key brands and product lines through greater marketing investment; and continued efficiency gains. For the first half of fiscal 2001, sales rose 5% to $14.1 billion, operating profit grew 17% to $1.1 billion, and net income grew 55% to $448 million.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-food gives you the widest food market coverage.
Paid just-food members have unlimited access to all our exclusive content - including 17 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Dean Best, editor of just-food
- US food next wave on display at Winter Fancy Food
- How General Mills plans to grow - CAGNY
- Comment: Meal kits in US - don't believe the hype
- Wessanen eyes growth in "resurgent" organic market
- Does Kraft Heinz want to swallow Unilever whole?
- Unilever launches operational review
- Kerry operating earnings strengthen on slow sales
- Glanbia focuses on nutrition with Irish dairy spin
- Kerry's Scanlon to replace McCarthy as CEO
- Mondelez launches savoury snacks brand Vea