(News Bulletin 247) – Campbell Soup rose more than 4% on Wednesday on the New York Stock Exchange after reporting “solid” quarterly results and revising its objectives for the full year upwards.

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The American agri-food group announced this morning a turnover of 2.6 billion dollars for its first fiscal quarter, ending at the end of October, up 15% in organic as in published data.

In its press release, the soup manufacturer based in Camden (New Jersey) explains that it benefited from the rise in its prices and its productivity measures intended to offset strong inflationary pressures.

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Its gross operating surplus (Ebit) increased to 436 million dollars against 376 million dollars a year earlier.

Excluding exceptional items, its adjusted Ebit was up 15%, at $449 million.

As for its outlook, Campbell now says it expects organic growth of 7% to 9% for the full year, compared to a previous estimate of 4% to 6%.

Its adjusted Ebit should increase between 2.5% and 6.5%, and no longer by 1% to 5% as previously envisaged.

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