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Latest Business News

Heinz 4Q Profit Rises 7.8 Percent

Thursday, May 31, 2007 3:44:23 PM
By DANIEL LOVERING

 Heinz tomato ketchup product line the shelves of a West Mifflin, Pa., market in this Aug. 31, 2006 file photo. Food producer H.J. Heinz Co. said Thursday, May 31, 2007 its fiscal fourth quarter profit increased 7.8 percent, boosted by strong sales of the company's top brands.  (AP Photo/Gene J. Puskar, file)PITTSBURGH (AP) - Food producer H.J. Heinz Co. said Thursday its fiscal fourth quarter profit increased 7.8 percent, boosted by strong sales of the company's top brands.

Quarterly earnings grew to $181 million, or 55 cents per share, from $167.9 million, or 50 cents per share, during the prior-year period.

Sales edged up 0.6 percent, to $2.41 billion from $2.40 billion. Heinz said sales of its top 15 brands grew 4.4 percent during the quarter, partly as a result of greater spending on marketing.


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