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.

Source: Austin Daily Herald