Heinz profit up 8.6 percent on strong emerging market sales |

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.

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