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Hormel profits will be more plump than expected

Hormel Foods is setting the table for plumper-than-expected profits in fiscal year 2009.

The Austin, Minn., company announced to shareholders today that it expects to make more than $2.36 per share, instead of the $2.15 it was previously forecasting.

CEO Jeffrey Ettinger said the increase reflects strong or improved performance from it grocery, refrigerated foods and Jennie-O Turkey segments. The company issues its third-quarter results Aug. 20.

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