Food company ConAgra served up an extra helping of profit in its fiscal first quarter.

Adjusted earnings per share (EPS) of 44 cents were well above the 35 cents expected by the consensus of analysts and the 31 cents reported in the year-ago period. The group's sales rose 6.7% to €3.31bn euros, also surpassing the consensus estimate, which was for sales of €3.24bn.

Total unadjusted net income more than doubled from $93.8m to $250.1m as the company benefited from acquisitions and one-time items, including a gain of 20 cents per share related to derivatives used to hedge against swings in commodity costs.

The packaged foods company also raised its 2013 full-year outlook, improving its annual EPS estimate to $2.06 from $2.03 compared to the consensus estimate of $1.98.

The company also increased its dividend by a penny to 25 cents per share.

By 15:51, shares of ConAgra were up 5.65% to $27.10.

SC

Related share prices