• FY profits climb 13.2%
  • FY sales edge up 2.4%
  • Q4 profits soar 183.4%
  • Maintains FY EPS guidance
ConAgra saw it profits rise by 13.2% for the full-year

ConAgra saw it profits rise by 13.2% for the full-year

US food group ConAgra has booked an increase in full-year profits, despite what it describes as challenging economic conditions.

For the 12 months to the end of May, profits rose by 13.2% to US$818.8m. Operating profits climbed by 11.8% to reach $830.3m, the company reported today (23 June).

Sales in the period amounted to $12.30bn, a 2.4% increase on the prior-year.

For the fourth quarter, profits soared 183.4% to $255.6m, while operating profits increased 46.7% to $494.6m. Sales edged up 5.3% to $3.21bn.

"Overall marketplace and economic conditions remain challenging, as our consumer foods segment incurred 9% cost inflation this quarter," said ConAgra's CEO, Gary Rodkin.

He added that "high input costs and difficult economic conditions are expected to continue to create challenges in fiscal 2012".

Despite this, Rodkin said the company remains committed to its long-term EPS growth goal of 6% to 8% annually.

Click here to view the full earnings release and check back later for further insight into ConAgra's full-year results.