US food giant Heinz is to report “strong” first-quarter results, its chief executive told shareholders today (28 August).

Heinz chairman, president and CEO Bill Johnson told the ketchup firm’s AGM it would file a 10% increase in net income from continuing operations, excluding charges from its programme to boost productivity.

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Johnson also said Heinz would book a 5% gain in organic sales when it announces its quarterly results tomorrow. He said Heinz was “off to a strong start” in its new financial year “despite the weak global economy”.

In May, Heinz reported a 9.8% increase in full-year net income, excluding the productivity programme costs, to $1.09bn.

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