US ketchup maker HJ Heinz has posted a jump in full-year revenues and income, boosted by gains in emerging markets and US consumer products.
The company today (28 May) posted a 9.2% jump in net income, which rose to US$923m. EPS rose 10.3% to $2.90 per share.
Total sales in the 12-month period increased to US$10.1bn, while organic sales were up 5.5%. Gains were driven by sales growth in emerging markets and in the US.
Sales in emerging markets grew 8.8% on a reported basis and 15.7% on an organic basis, propelled by double-digit organic sales growth in India, Indonesia, Latin America, Poland and baby food in China.
In the US, the company benefited from the increasing trend for consumers to cook at home, with higher sales of Heinz Ketchup, Classico pasta sauces, Complan nutritional beverages and other brands.
“Heinz delivered record sales and profit in fiscal 2009 despite the difficult global environment,” said chairman, president and CEO Bill Johnson. “Heinz brands around the world performed well, benefitting from the growing trend of at-home dining.”
Looking to the coming year, Heinz said that, on a constant currency basis, it expected sales growth of 4-6%, operating income up 6-8% and EPS growth of 5-8%.
However, Johnson added: “Our reported results will likely be affected by unprecedented currency volatility.”