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Heinz reports record sales of $10.5bn

Shaun Weston27 May 2010

HJ Heinz Company has reported ‘excellent’ full-​year and fourth-​quarter results for fiscal 2010 as the company delivered dynamic double-​digit organic sales growth in emerging markets.

Full-​year highlights

  • Sales grew 4.8% to a record $10.5bn.
  • Organic sales growth (volume plus price) of 2.1%.
  • Top 15 brands grew 3.4% on an organic basis (5.7% reported).
  • Emerging markets delivered 15.3% organic sales growth (10.2% reported).
  • Marketing investments increased by more than 25%.
  • EPS from continuing operations increased 9.3% on a constant currency basis, down 1.4% reported.
  • Record operating free cash flow of $1.08bn.

Fourth-​quarter highlights

  • Sales grew 8.3% to $2.72bn.
  • Organic sales growth of 2.6%.
  • Top 15 brands grew 4.0% on an organic basis (9.2% reported).
  • 20 consecutive quarters of organic sales growth.
  • Emerging markets delivered 21.1% organic sales growth (17.6% reported).
  • Marketing investments increased by more than 60%.
  • EPS from continuing operations of $0.60 grew 7.1%, total company EPS of $0.60 grew 9.1%.
  • Total company net income grew 9.8% to $192m.

Read the full HJ Heinz financial press release at this link.

Source: HJ Heinz

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