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.