ConAgra Foods has posted a higher-than-expected profit for the third quarter of fiscal 2015 and raised its full-year earnings forecast.The company's Consumer Foods Segment reported sales of about $1.8bn and operating profit of $274m.
Brands that posted growth in sales include ACT II, Chef Boyardee, Hebrew National, PAM, PF Chang's, Rosarita, and Slim Jim.
ConAgra Foods chief executive officer Gary Rodkin said: "We are pleased with the performance of our Consumer Foods segment and our domestic Commercial Foods business, as well as the robust efficiencies we are generating across the company.
"Our Private Brands segment, however, is significantly below expectations; we are in the midst of implementing initiatives to improve execution to drive better performance starting in fiscal 2016."
Commercial Foods segment sales stood at $1bn, representing 1% increase compared to the same quarter of previous year.
During the quarter, ConAgra's Private Brands segment sales were $1bn, a 5% decline from year-ago period amounts. Sales for the Private Brands segment stood at $1bn, down 5%compared to year-ago period.
The company said it will continue to expect to cut down debt by a total of $1bn in fiscal 2015.
