Heinz releases annual report

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Related tags: Ketchup, H. j. heinz company

H.J. Heinz Company released its Fiscal 2001 annual report entitled
"Innovation Celebration," in which it presented recent
product and packaging innovations.

Last week, H.J. Heinz Company released its Fiscal 2001 annual report entitled "Innovation Celebration,"​ in which it presented recent product and packaging innovations. Sales increased four per cent in the ketchup, condiments and sauces category, and 25.6 per cent in the frozen foods category. In the foodservice sector, sales rose nine per cent, including acquisitions. Heinz Ketchup reached a market share of 51.2 per cent in the United States. William Johnson, Heinz's Chairman also pointed to challenges during the year, particularly the adverse impact of record low raw tuna prices and a strong American dollar. "Over the last four years, currency has reduced Heinz​ sales by approximately $1.1bn and operating income by approximately $195m,"​ he says. "And like other consumer packaged goods companies, we remain in a challenging retail environment."​ As for marketing, Mr. Johnson said that Heinz "must maintain a proper balance between delivering short-term results and investing in long-term opportunities - both integral to creating value."

Related topics: Market Trends

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