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Home Industry News Heinz reports record results in 2010

Heinz reports record results in 2010

28th May 2010

Heinz has published its financial report for its 2010 fiscal year, a period which saw the company achieve a 4.8 per cent year-on-year sales growth.

Total sales for the 12-month period came to $10.5 billion (7.2 billion pounds), a record for the company, while its operating free cash flow figure of $1.1 billion was also a new benchmark.

Its infant nutrition division was among those to see growth in the last year, with sales from the unit totalling $1.6 billion for 2010 compared to $1.1 billion the year before.

Heinz chairman, president and chief executive officer William Johnson, described the performance as “excellent” and highlighted the role played by emerging markets in aiding its annual growth.

He added: “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.”

Earlier this month, Heinz announced the appointment of Karen Alber as its new senior vice-president, chief information officer and global programme management officer, recognising her contributions to the firm’s development.

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