In a filing with the Securities and Exchange Commission packaged and frozen foods producer ConAgra said Friday (21 June) that additional impairment charges related to its packaged meats business will be less than initially expected.
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On Thursday, the company had said it would post pretax charges for the business of US$120m to $140m in the fourth quarter of 2006, which ended in May.
In the amended filing, ConAgra said that pretax charges would likely be between $75m and $85m. The charge reflects the net assets of the packaged meats business at its estimated fair value, less costs to sell.
ConAgra shares fell to $21.90 by close of trade on Friday from a high of $22.01.
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