(Source: Datamonitor)
HJ Heinz, a food company, has reported sales of $2.58 billion for the first quarter ended July 30, 2008, a 14.9% increase compared to $2.25 billion for the same period in fiscal 2008.
Net income was $228.96 million, or $0.72 per diluted share, compared to $205.29 million, or $0.63 per diluted share, in the same quarter of fiscal 2008. Gross profit stood at $934.14 million, compared to $838.40 million in the corresponding period of fiscal 2008.
William Johnson, chairman, president, and CEO of Heinz, said: "Heinz is off to a strong start in the fiscal year, with excellent growth in first-quarter sales, operating income and earnings per share. We achieved record organic sales growth, reflecting the strength of our top 15 brands, dynamic growth in our emerging markets, higher marketing investments and benefits from increased focus on products for healthier lifestyles."
