ConAgra Q3 Profit Up

The consumer food division of ConAgra Foods has helped the company post a profit of 19% in the third quarter that ended 28 February 2010.

The US company’s operating profit of $306m was 25% ahead of last year’s $245m including a gain of nearly $14m from the sale of the Luck’s brand.

The consumer trend to eat at home during the downturn saw 65% of the company’s revenue come from sales of frozen dinners and other consumer foods.

Sales in the consumer foods division, which includes supermarket products, were $2.03bn, up 2% over last year’s quarter.

Commercial food sales, including Lamb Weston frozen potatoes, which contributed 35% of the revenue, were $1.06bn, down 6.3% from last year.