Food Before Profit provides balanced news about the food industry
Wednesday, November 21, 2012
Hormel’s Profits Hit Record $500 Million
Hormel Food Corp.'s profits soared to a record $500.1 Million for the Fiscal Year 2012.
The Austin Daily Herald reports that "That’s up 5 percent from $474.2 million, or $1.74 per share, in 2011, and the company also hit a record $8.23 billion in total sales, up 4 percent from last year’s $7.9 billion"
The company also reported that the Jennie-O turkey division saw a profit increase of 16% over last year.