US baby food maker Mead Johnson Nutrition has raised its full-year profit guidance after reporting higher first-quarter sales and earnings today (28 April).

On a GAAP basis, the company’s net earnings for the first three months of the year rose to US$146.1m, up from $125.6m for the comparable period of last year.

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The group said that earnings were boosted by a lower tax rate that was the result of a shift in its geographic earnings mix as well as improved revenues.

Net sales for the first quarter jumped 18% to $899.8m.

Looking to the full year, Mead Johnson lifted its earnings outlook to a range of $2.62-70 per share, from previous guidance of $2.55-65 per share. Sales for this year are expected to grow by about 10%, excluding currency exchange.

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