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Hormel Foods 2nd-qtr profit rises 28 pct



May 20 Hormel Foods Corp, the maker of Spam lunch meat, reported a 28.2 percent rise in quarterly profit, helped by lower costs in its refrigerated foods business.

The company’s net income rose to $180.4 million, or 67 cents per share, in the second quarter ended April 26, from $140.7 million, or 52 cents per share, a year earlier.