US food group Hormel Foods has booked an increase in third-quarter profits as all five of its business segments reported earnings growth.

In the three months ended 29 July, profit climbed 13% to US$111.2m, the company reported yesterday (22 August).

Hormel said it had “an excellent quarter”, led by its grocery products segment, which recorded 32% profit growth.

Operating profit reached $171.8m compared to $146.8m last year.

Sales for the quarter amounted to $2bn, up 5% from the same period in fiscal 2011.

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By GlobalData