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Heinz reports strong first-​quarter results

Shaun Weston1 Sep 2010

Heinz has reported ‘strong’ first-​quarter results with a double-​digit increase in EPS to $0.75.

Highlights

  • 3.6% organic sales growth, reported sales up 1.6%
  • 21st consecutive quarter of organic sales growth
  • Emerging markets delivered 21.9% organic sales growth (13.2% reported) and generated 17.8% of the company’s sales
  • Top 15 brands achieved 5.7% organic sales growth (3.3% reported)
  • Global ketchup organic sales grew by 8.0% (3.4% reported)
  • Volume grew 2.5%, led by higher volume in emerging markets and North American Consumer Products
  • Gross profit margin improved by 90 basis points
  • Operating income grew 9.9% to $406m
  • Net income increased 13% to $240m
  • Earnings per share grew 10.3% from continuing operations
  • Operating free cash flow increased 80% to $217m.

Read the full Heinz financial statement here.

Source: Heinz

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