Heinz experiences profit dipDespite a sales boost in Asia, food maker Heinz saw its profit for the third quarter of 2009 drop by six per cent. The firm experienced a 13 per cent revenue rise during the three-month period, which it has attributed to more people dining in during the recession, however, the cost of selling frozen food businesses in the United States and Britain impacted on its profit. Its profit fell to $228.5 million, or 72 cents a share in the quarter, which ended on January 27th. Heinz chairman, president and chief executive officer William R. Johnson said: "Our excellent third-quarter performance reflects strong execution of our strategy to accelerate growth in Emerging Markets and increase consumer marketing and innovation to drive volume growth in key developed markets, especially the UK and US retail businesses." Earlier this month, Heinz launched its first dual-function ketchup package which allows customers to either dip or squeeze the product onto their food. It also announced a reduction in sodium across its base ketchup line.  | |||||||||||||||||||||
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