Campbell Soup expects fiscal 2009 adjusted profit growth above long-range target

Campbell Soup says 2009 profit to top target

CAMDEN, N.J. — Campbell Soup says it expects its fiscal 2009 profit growth to exceed its long-range target of 5 percent to 7 percent.

Given the $2.09 per share in profit recorded by the Camden, N.J.-based food company in fiscal 2008, Campbell’s target would imply income of $2.19 to $2.24 per share in 2009.

On average, analysts expect profit of $2.17 per share.

Campbell also foresees revenue climbing 3 percent to 4 percent, excluding the effect of divestitures and one less week in the period. The company had 2008 revenue of $8 billion.

Analysts expect revenue of $7.59 billion in 2009.

Campbell Soup Co. reports results for the fiscal year ended in July on Sept. 11.