Indonesia, China help drive up Heinz profits

Heinz’s third-quarter volume growth was boosted by strong performance in markets in Indonesia and China.

Overall, the manufacturer of condiments, meals, snacks and infant foods says sales in Asia Pacific increased 6.5 percent, while volume increased sales 2.5 percent. Looking at results country-by-country, price increases in Indonesia increased sales 1.8 percent. Meanwhile China’s Long Fong frozen-food business had strong gains of 11 percent.

“Our increased strategic focus on health and wellness, and accelerating growth in fast-growing emerging economies like China, Indonesia, Poland and India is driving continued performance improvements,” explains William R. Johnson, chairman, president and CEO. “Heinz remains on track to meet its full-year EPS projection of $2.35 to $2.39, an increase of 12 to 14 percent versus last year."