Campbell Soup profit falls

Second quarter profits fall due to high costs for commodities
February 15, 2008 4:51:07 PM PST
High costs for commodities, energy and advertising offset a strong sales increase at Campbell Soup Company.The world's largest soupmaker says its second-quarter profit slipped nearly 4 percent as a result.

Campbell's says it earned $274 million, or 71 cents per share, for the three months ended January 27. But sales climbed to $2.2 billion, up more than 7 percent from a year ago.

Excluding earnings from discontinued operations, profit edged up slightly. The company is selling its Godiva Chocolatier business.

Campbell's said sales of its condensed soup dipped slightly but ready-to-serve soup sales were up by 8 percent.

Campbell shares rose about 4 percent this morning.