Heinz Reports Volume Sales Decline

Food giant Heinz has reported a drop in revenues and profits for its fiscal fourth quarter, after being hit by the strength of the US dollar and falling volume sales . The firm - which generates 60% of its sales outside of the US - reported a 5.6% fall in revenues to US$2.54bn, while net income fell to US$175mn, from US$194mn a year earlier. On an organic basis, sales increased by 5.2% during the quarter, although this can be entirely attributed to an increase in prices, with volume sales falling by 2.3% over the three

To read the full article, please choose one of the following options: