Asian squeeze and protein products hit ConAgra
CONAGRA, the US meat processing and food group, suffered a decline in net profits in the fourth quarter from $186.5 million to $168.7m.
Most of its food businesses did well, but earnings from the US fresh meat and poultry division fell sharply, continuing a trend which began earlier in the year.
The fall was partly down to a decline in exports to Asia as well as a glut of protein products in the USA which affected prices and margins.
- Financial Times 02/07/98 page 3, page 31