US Firms Struggling With Commodity Costs But BMI Anticipates Easier 2012

The latest results from US food producers Conagra and General Mills continue to point to the difficulty that firms are having in passing on increased commodity costs at a time when the consumer sector remains weak. For the six months to November 27 Conagra registered an 8.8% increase in revenues, but net income was down by 26% and operating incomes fell by 2.2%, with profits at its consumer food business off by 6.9%. Meanwhile, for the same period General Mills registered a 13.7% increase in sales but a 21.5% drop in its net income and a 14.4% decline in its

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