Heinz Q3 Profit Leaps 88%

01 March 2007

PITTSBURGH, USA: H J Heinz Company this week posted blossoming fiscal third-quarter profits, up 88% year-on-year thanks to 11% growth in the sales of its top fifteen brands. Net income rose to $219 million (€165.53m; £111.66m) for the period ended January 31. The year-ago quarter also included one-off charges.

Total sales rose 5% to $2.3 billion, fueled by double-digit growth in top brands including Heinz branded products, Smart Ones meals, Classico pasta sauces and ABC branded products.

Sales at Heinz' North American consumer products units increased 8.5% on volume up by 5.2%. In the Asia/Pacific region sales rose 6.5%, while sales for the remainder of the globe grew 11%.

Data sourced from Wall Street Journal Online. additional content by WARC staff