US: ConAgra ups FY earnings forecast
US food group ConAgra Foods has lifted its forecast for annual earnings on the back of its acquisition of private-label group Ralcorp Holdings - and "strong contributions" from the rest of its business.
ConAgra now sees diluted earnings per share reaching US$2.15 for its fiscal 2013 year, which ends in May.
The company, now the largest own-label firm in the US, said "tax favourability" would also help its EPS. In December, ConAgra forecast diluted EPS of $2.06.
Check back later for coverage of ConAgra's appearance at the Consumer Analyst Group of New York conference in Florida today.
Higher LIFO charges and sales depressed by lower prices have hit first-quarter profits at US canned fruit and veg firm Seneca Foods....
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