Heinz Fiscal 3rd-Quarter Profit Falls |
New York Times - Feb 25, 2010 |
Food maker H.J. Heinz Co. said growth in emerging markets helped its fiscal third-quarter revenue rise 13 percent. But profit fell 6 percent on costs associated with selling two businesses.
Heinz, known for its namesake ketchup, has benefited from the recession as consumers ate at home more often. But sales growth in the U.S. has been slowing, and Heinz is now amping up marketing, developing new products -- such as its new ''Dip & Squeeze'' ketchup packets, out in the fall -- and building on growth in emerging markets to hold onto its gains.
Profit fell to $228.5 million, or 72 cents per share, from $242.3 million, or 76 cents per share.
Read Full Article from New York Times
- Posted: 2010-02-25 10:46:27
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