Processing Magazine

Heinz sees strong fiscal 2008

September 24, 2007

The Associated Press reports that ketchup maker H.J. Heinz Co. will "over-deliver" on its fiscal 2008 revenue guidance, Chief Executive William R. Johnson said recently during a conference. At a Bank of America conference in San Francisco, Johnson said the Pittsburgh-based food company expects to exceed its original sales target of 4 percent growth and reaffirmed Heinz plans to reach the upper end of the company''s earnings guidance of $2.54 to $2.60 per share.

Analysts polled by Thomson Financial expect a profit of $2.62 per share on revenue of $9.61 billion.