Sara Lee said on Wednesday quarterly profit rose sharply as the company took fewer restructuring charges.
The maker of Sara Lee baked goods, Hillshire Farm lunch meats and Jimmy Dean sausage said profit was $117 million, or 16 cents a share, in the fiscal fourth quarter ended June 30, compared with $8 million, or 1 cent a share, a year earlier.
Sara Lee , which has undergone a major restructuring that included the divestiture of several business lines, including the Hanesbrands apparel business, has grappled with rising costs while trying to spur sales.
Sara Lee shares closed on Tuesday at $16.00 on the New York Stock Exchange. The stock is down 6% this year, compared with a 1% rise in the Standard & Poor's packaged foods index.