UPDATE 1-Sara Lee 1st quarter profit rises
Published: 05 Nov 2009 17:12:40 PST* EPS $0.41 including items vs year earlier $0.32
* Change in commodity contract value helps
CHICAGO, Nov 5 - Sara Lee Corp posted higher quarterly earnings on Thursday, as improvements in the value of commodity contracts the company holds helped offset lower sales.
The maker of Sara Lee bread and Jimmy Dean sausage said profit was $284 million, or 41 cents a share for the first quarter ended Sept. 26, compared with $230 million, or 32 cents a share, a year earlier.
Sara Lee announced in September that it had agreed to sell its personal care brands like Sanex and Brylcreem to Unilever Group for $1.87 billion. It also said then it had seen significant interest in its household products business, which includes Ambi Pur air freshener and Kiwi shoe polish.
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