Net Income for Heinz Increases by 9%
Net Income for Heinz Increases by 9%

The world's biggest ketchup maker has announced that it was able to garner substantial revenue in its second quarter because of its rising sales in the overseas market. Heinz announced on Saturday that it was able to muster up an increase of 9% to reach $251.4 million for its net income in the second quarter.

In contrast to the year earlier Heinz had been able to earn a net income of $231.4 million. The marked increase in sales was because the company was able to earn significantly by selling beans in the UK and children's foods in India.

Apart from the increased sales, Heinz had earlier this year acquired the Chinese Company, Foodstar in the month of June. The deal between Heinz and Foodstar has been slated to have amounted to $165 million.

While talking about overseas markets, the Chief Executive Officer for Heinz, Bill Johnson stated that he saw China as an instrumental partner towards the Company's future growth in world markets. He added that Heinz was investing in China to quicken the rate of growth in the South-East Asian region.

Mr. Johnson also stated that the acquisition of china would help the organization in quickly being able to increase its growth in the country. He added that Heinz would be looking to aggressively invest in the country over the next
12 to 18 months.

 

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