Heinz affirms guidance

by FoodBusinessNews.net Staff
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PITTSBURGH — At the Bank of America Conference, the H.J. Heinz Co. announced it will achieve results in the upper end of its previously released full-year 2008 guidance.

"Given our momentum, the strength of the first quarter, and aggressive plans for the balance of the year, we expect to over-deliver our original sales target of 4% and achieve the upper end of our earnings per share range of $2.54 to $2.60 in Fiscal 2008," said William R. Johnson, chief executive officer.

In the first quarter of 2008, the company posted an e.p.s. growth of 9% and operating income growth of 15%.

The top 15 brands for Heinz have posted strong results recently, and innovation and efforts to reduce costs have also helped the company meet and surpass many goals.

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