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The man from Del Monte

Del Monte Foods yesterday posted a far higher-than-expected quarterly profit, helped by price increases, volume growth and cost cuts, and offered a strong fiscal-year forecast, sending its shares up 9.3 per cent. The maker of Meow Mix pet food and Del Monte canned fruits and vegetables said that net income jumped 42 per cent to $71.5m (&pound;43.1m) in the fourth quarter ended 3 May, from $50.4m, a year earlier.<br />