Senior management at ConAgra Foods will confirm its earnings forecast for 2009 and 2010 when it meets with institutional investors this week.

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The company said it would reaffirm its guidance of 8-10% compound annual growth in earnings per share for the 2009 and 2010 fiscal years.


In September, ConAgra posted a mixed first quarter to its current financial year.


The US food group posted a 21.5% rise in operating profit for the three months to 26 August, although earnings were lifted as profits from its trading and merchandising arm almost quadrupled.


Quarterly earnings from ConAgra’s consumer foods business dipped 3.4%, while earnings from its international foods operations tumbled 14.4%. In sum, operating profit reached US$383.5m.

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ConAgra saw turnover rise 9.9% to US$1.6bn, thanks to sales growth across the business. Consumer foods sales rose 3% but again the strongest growth was from the company’s trading and merchandising business.