EARNINGS : Sara Lee Profits Rise 15.3%
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CHICAGO — Sara Lee Corp. said today its profit rose 15.3% in its fourth fiscal quarter, despite a decline in revenue and lower results from its packaged meats and bakery products businesses.
The packaged food and consumer products company said it earned $118.4 million, or 48 cents per share, in the three months ended June 30 compared with $102.7 million, or 43 cents a share, a year earlier.
Revenue for the quarter slipped 3.3% to $2.95 billion from $3.06 billion a year earlier.
“Higher margins in our coffee and grocery operations combined with a continued strong profit . . . in our personal products businesses more than offset lower earnings in our packaged meats and bakery line of business,” Chairman John Bryan said in a news release.
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