Heinz Profit Marks a Jump 9.9%
Heinz Profit Marks a Jump 9.9%

H. J. Heinz Co. announced its fiscal fourth-quarter earnings to have registered a climb of 9.9% triggered by emerging markets that continued to nudge growth at the food-processing Company.

For the quarter ended April 28, its net income recorded was $192.4 million, or 60 cents a share, compared to $175.1 million, or 55 cents, posted a year-earlier quarter, easily surpassing analyst' estimations.

However, a survey of analysts by FactSet Research produced consensus estimates of 61 cents a share of profit on $2.74 billion of sales.

Its revenue witnessed a rise 8.3% touching $2.72 billion triggered by boosting ketchup sales, which rose 9.5%, and sauces. In emerging markets, its organic sales marked a jump 21%.

The manufacturer of products ranging from its namesake ketchup to baked beans to Classico pasta sauces posted to raise its quarterly dividend 7.1% to 45 cents a share.

In addition, Heinz also projected its growth anticipation for the New Year of 7% to 10% for profit, with sales to rise 3% to 4% on a constant-currency basis.

However, analysts polled by Thomson Reuters augur earnings to expand 8% to $3.09 and unadjusted revenue to boost 2% to $10.79 billion.

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