Blog: Heinz getting formula just right
Dean Best | 30 November 2007
Heinz is a company full of beans at the moment. Yesterday (29 November), the US-based food giant bucked the trend of a number of its peers and booked a bumper set of second-quarter figures.
Like the whole industry, Heinz has been faced with rising commodity costs but the company successfully raised its prices and found sales stayed firm.
Buoyant growth in Europe, Asia-Pacific and in its own backyard suggests Heinz is getting the formula right much, no doubt, to the satisfaction of activist investor Nelson Peltz.
“This was Heinz's best quarter in years," one analyst said.
And the fact that Heinz upped its earnings forecast in a climate of rising commodity costs suggests the company’s management believes there is more good news to come.
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