Shares in supermarket sandwich and ready meal supplier Greencore Group PLC (LSE:GNC) leapt over 18% after it more than doubled first-half profits.
Revenue came in at £866.1 million, down 6.4% after the company exited a number of low-margin contracts last year and the disposed of oil and fats arm Trilby.
Like-for-like revenue increased 4.1%, with a volume growth of 1.2%.
Operating profit jumped to £25.3 million from £11.8 million.
The FTSE 250-listed group said it is currently expecting full-year adjusted operating profit "in a range of £86-88 million", up 5% from previous guidance and ahead of current market expectations.
Greencore said its target is to return a £50 million to shareholders over next 12 months, starting with a share buyback of up to £30 million "and if the business continues to trade as expected the board intends to declare a dividend for the year to September 2024".
Analysts had been expecting operating profits nearer £20 million in the first half.