US: Mead Johnson ups earnings target after profits jump
US-based baby-food group Mead Johnson Nutrition today (28 October) lifted its 2010 earnings target after posting an almost 9% increase in third-quarter profits.
US-based baby-food group Mead Johnson Nutrition today (28 October) lifted its 2010 earnings target after posting an almost 9% increase in third-quarter profits.
Mead Johnson now forecasts full-year non-GAAP earnings per share of US$2.38 to $2.42, up from its earlier guidance of $2.35 to $2.40.
The company booked an 8.7% increase in third-quarter net income to US$107.4m for the three months to the end of September. Net sales climbed 16% to $810.2m, as volumes rose 12%.
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