Heinz optimistic despite profit slide

  • May 31, 2010
  • source: just-food

US food group Heinz said it performed ‘well’ in a challenging and volatile global environment, despite a slide in full-year profits.

For the 12-months ended 28 April, net income attributable to shareholders dropped to US$864.9m compared to $923.1m in the prior year.

EPS dropped to $2.87 from $2.91 in the prior year, which was unfavourably impacted by $0.29 from net currency movements.

Sales, however, grew 4.8% to $10.5bn, while operating income increased 3.8% to $1.56bn.

Heinz chairman, president and CEO William Johnson said: “Heinz delivered strong profit with record sales and cash flow in fiscal 2010 as our businesses and iconic brands around the world performed well in a challenging and volatile global environment.

He added: “Heinz’s emerging market businesses drove much of our growth, paced by outstanding performance in India, Indonesia, Russia, Latin America and the Middle East.”

just-food is the world’s leading portal for the global pre-packaged food and retail industries. Its daily mix of breaking news, views, analysis and research serves over 100,000 food executives each month. http://www.just-food.com/


Bookmarks

  • Digg
  • Sphinn
  • del.icio.us
  • Facebook
  • Mixx
  • Google Bookmarks
  • Furl
  • Netvouz
  • NewsVine
  • Reddit
  • Fark
  • Propeller
  • Slashdot
  • StumbleUpon
  • Technorati

Reader Comments

Australian Food News reserves the right to edit or not publish comments of a potentially offensive or defamatory nature. Comments will not be published if name and email address has not been provided (name and email will be withheld if requested).

The opinions expressed below are those of Australian Food News readers and do not necessarily reflect those of Australian Food News.