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ConAgra's profit dips 18 pct
September 28, 2017 / 11:42 AM / in 21 days

ConAgra's profit dips 18 pct

Sept 28 (Reuters) - Conagra Brands Inc, which makes Reddi-Wip whipped cream and Chef Boyardee pasta, said on Thursday its quarterly profit fell about 18 percent, as it paid more to slot brands such as PAM and P.F. Chang’s Home Menu at more supermarkets.

Net income attributable to the Conagra fell to $152.5 million or 37 cents per share in the first quarter ended Aug. 27, from $186.2 million or 42 cents per share, a year earlier.

Net sales fell 4.8 percent to $1.80 billion, hurt by weak demand for Conagra’s grocery and snacks products. (Reporting by Gayathree Ganesan in Bengaluru; Editing by Sai Sachin Ravikumar)

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