Heinz has reported higher first-quarter earnings, as cost reduction efforts more than offset a slowdown in sales.
During the first three months of the year the firm, which was acquired by 3G Capital and Berkshire Hathaway last year, saw sales fall 2.9%.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
However, under its private-equity owners Heinz has embarked on a significant cost-cutting drive. The group has closed factories in North America and Europe and cut its headcount. Lower costs enabled the firm to report an increase in operating profit of 8.9%. Net profit rose 9.8%.
Click here to view the full filing.
