Con Agra Inc.: The international food processing...

Con Agra Inc.: The international food processing and distribution company posted record second-quarter profit of $63.9 million, up 13% from a year ago. Sales totaled $3.86 billion, a 36% increase. The major source of sales growth was the acquisition of the remaining 50% interest in Sipco, formerly known as Swift Independent Packing Co., in which the firm previously held only 50% interest. Con Agra, based in Omaha, said spending to support products, including the new Healthy Choice line, contributed to the quarter’s decline in profit for the consumer frozen foods unit.