Archive

Heinz profit up 8.6 percent on strong emerging market sales | TribLIVE.com
News

Heinz profit up 8.6 percent on strong emerging market sales

H.J. Heinz Co said its profit grew by 8.6 percent in its second quarter, as the company grew ketchup sales around the globe and performed well in developing markets.

Downtown-based Heinz said today it earned $251.4 million, or 78 cents a share, for the quarter ended Oct. 27. That compares to $231.4 million, or 73 cents, for the same period a year ago.

Sales fell overall to $2.61 billion, from $2.65 billion a year ago.

“Our strategy to accelerate growth in emerging markets is producing excellent results,” CEO William R. Johnson said, “especially in Asia, where Heinz is well positioned with strong brands in growing economies that possess expanding numbers of new middle-class consumers.”

The growing markets could generate at least 20 percent of Heinz sales by 2013, he said. Heinz said it expects sales growth of 3 to 4 percent for the full year.


TribLIVE commenting policy

You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.

We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.

While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.

We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers

We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.

We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.

We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.

We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.