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Heinz reports strong first-quarter results
By Shaun Weston
01 September 2010
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Business
Financial
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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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