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Home Industry News Heinz experiences ‘exceptional’ third quarter

Heinz experiences ‘exceptional’ third quarter

1st March 2010

Heinz has expressed satisfaction with its performance in the third quarter of its fiscal year after seeing an increase in its sales and income.

The food and nutritional products firm’s sales for the quarter ending January 27th 2010 totalled $2.7 billion (1.8 billion pounds), a 12.7 per cent annual increase, while operating income also grew by 13.8 per cent.

Its infant nutrition business sector was among those to exhibit growth, with sales for the quarter increasing to $280.5 million, compared to $252.8 million last year.

William Johnson, chairman, president and chief executive officer of Heinz, said this was indicative of its successful efforts to improve performance in both established and developing markets.

He added: “After delivering our nineteenth consecutive quarter of organic sales growth, Heinz remains on track to deliver our recently increased fiscal 2010 EPS outlook of $2.82 to $2.85 from continuing operations.”

Last month, the company announced the appointment of Bob Ostryniec in the newly created role of chief supply chain officer in order to reduce costs and improve margins.

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