Campbell Soup posts higher profit
Campbell Soup Co
Operating earnings rose to 30 cents share in the fourth quarter, ended August 2, from 26 cents a year earlier.
The latest results exclude changes in the market value of commodity hedging contracts and an impairment charge for certain European trademarks.
Net profit was $69 million, or 20 cents a share, compared with $89 million, or 24 cents, a year earlier.
The fourth quarter tends to be the slowest of the year for Campbell as fewer people eat soup in the summer.
Campbell forecast a 5 percent to 7 percent rise in earnings in the current fiscal year from the adjusted $2.22 a share reported for fiscal 2009.
Campbell shares stood at $33.61 in premarket trading, up from Thursday's New York Stock Exchange close at $33.12.
(Reporting by Brad Dorfman; editing by John Wallace)
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