US food giant Heinz has booked an increase in profit in the first half of the year and reiterated its full-year sales and earnings guidance.
In the six months ended 28 October, net earnings climbed 18.2% to US$547.5m, the company reported today (20 October).
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Operating profit amounted to $802m, a 10.2% increase on the prior year, while net sales dropped 0.5% to $5.62bn.
Heinz reported revenues declines in its Europe and North America divisions of 5.3% and 1.3% respectively in the first half.
Heinz said it remains “on track” to deliver its previously announced sales and profit outlook for fiscal 2013 of “at least” 4% organic sales growth, and EPS growth of 5-8% on a continuing operations basis.
Heinz share price was down 1.45% at $57.87 at 17:04 GMT today.
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