Heinz Reports 12.6 percent Rise in Third-quarter Sales
Heinz Reports 12.6 percent Rise in Third-quarter Sales

H. J. Heinz Co reported a 12.6 percent surge in its quarterly sales, triggered by higher marketing spending, strength in emerging markets and new products in the United States.

In addition, the company posted its quarterly profit slightly above the amount it forecast just a week ago in a meeting with analysts.

Heinz registered its quarter ended Jan. 27 profits to be $228.5 million, or 72 cents a share, decreased from $242.3 million, or 76 cents, a year earlier. Earnings from continuing operations, which excludes the two now-sold businesses, rose to 83 cents from 76 cents as revenue climbed 13% to $2.68 billion.

However, analysts polled by Thomson Reuters augured its earnings to be 77 cents on $2.66 billion in revenue.

The maker of Heinz ketchup, Ore-Ida potatoes and a host of other packaged foods, also reported robust marketing spending by 41 percent in the quarter.

For the full year, Heinz stood by its forecast of $2.82 to $2.85 a share. Analysts on average forecast $2.84 a share, according to Thomson Reuters I/B/E/S.

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