Del Monte Foods has raised its full-year outlook after posting an increase in first-quarter net sales and earnings. 

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First-quarter net sales rose 12% to US$813.7m, driven by pricing action taken to offset margin contraction and “solid” base unit volume gains.


Income from continuing operations totalled $58.9m, or $0.30 per share, up from an $8m loss, or $0.04 per share, last year.


The company raised its EPS guidance to $0.88-$0.92, compared to prior expectations of $0.76-$0.80. Del Monte retained its guidance for sales growth of 4-6%.


Del Monte added that it will increase its investment in marketing by 40-50%. The group had previously said it would increase its marketing spend by between 30% and 40%.

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For the full release click here, or click here for how Del Monte plans to tackle private-label competition.

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