Heinz profits down, sales up

Manufacturing News, Source : TheManufacturer.com
Published : 24 Aug 2004 15:05

Foods manufacturer H.J. Heinz Co. reported earnings of $194.8 million, a nine percent profit drop from $214 million one year earlier, but quarterly sales were slightly up due to increased sales of popular food items.

Sales rose to $2 billion in the most recent quarter, up from $1.9 billion a year earlier. Several of the company’s new french fry brands have had a increase in sales.

Heinz’s North American consumer products division reported an 8.4 percent increase in sales. In Europe, Heinz’s sales rose 7.3 percent. In the Asia-Pacific region, the company’s sales rose 1.5 percent.

Heinz recently spun off several of its brands to foods manufacturer Del Monte, including its tuna, pet food and baby food divisions.

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