USA: Hormel’s fourth-quarter earnings in line with expectations
US branded food and meat manufacturer Hormel Foods has posted fourth-quarter earnings that show little change from last year, as improved margins made up for low retail prices caused by a glut of meat in the US market. Net income for the quarter ended 26 October was US$68.0m, or 49 cents per share, compared with $68.8m, or 49 cents per share, for the same quarter last year.
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