Food Business News - June 7, 2011 - (Page 38)

Emerging markets propel Heinz’s fiscal 2011 earnings Overseas opportunities cited as the company’s ‘growth engine’ during the next five years “Emerging markets are the centerpiece of our growth strategy over the next five years; we have diversified and evenly spread our investments across the BRIC countries as well as Indonesia to maximize growth while not becoming overly dependent on any one of these markets,” said William R. Johnson, chairman, president and chief executive officer in a May 26 conference call with financial analysts. “We have proven teams in place who have the creativity, experience and agility to execute often complex initiatives or transactions. Importantly, we will continue to pursue opportunities to grow the Heinz brand in emerging markets, like we have in Russia, China and Venezuela, while maintaining our commitment to commercial autonomy and flexibility in local markets, which has proven to be a true competitive advantage for Heinz.” Mr. Johnson added that he expects emerging markets to contribute over 20% of Heinz’s revenues in fiscal 2012, up from around 10% six years ago. “Looking forward, I fully expect emerging markets to generate at least 30% of our company’s sales within five years while delivering disproportionate growth,” he said. “Indeed, the middle-class explosion is well under way in emerging markets with a projected 70% growth from 2010 to 2015 led by China and India. The tremendous development potential for packaged foods E Emerging markets are the centerpiece of our the c h growth strategy over the next five years ... — William R. Johnson, chairman, president and chief executive officer, H.J. Heinz Co. PITTSBURGH — Emerging markets including China, India, Indonesia and Russia propelled the earnings for the H.J. Heinz Co. during fiscal 2011 and will be the “growth engine” going forward, according to the company. During the fiscal year ended April 27, Heinz net income rose to $989,510,000, equal to $3.09 per share on the common stock, up 14% from net income of $864,892,000, or $2.87 per share, in fiscal 2010. $ Sales for the year were $10,706,588,000, up 2% from fiscal 2010. The company said emerging markets contributed 16% of Heinz’s total sales. Contributing to the growth in fiscal 2011 were products such as Heinz baby food in China, Complan and Glucon-D nutrition beverages in India, ABC soy and chili sauces in Indonesia, and Heinz ketchup and baby food in Russia. 38 FOODBUSINESS NEWS ® June 7, 2011

Table of Contents for the Digital Edition of Food Business News - June 7, 2011

Food Business News - June 7, 2011
House bill cuts food safety funding
Enhancing water’s value
Wet weather muddies corn outlook
Web Contents
Editorial - Quest for ‘whole truth’ on food prices in France
MyPlate steps up in simple fashion
Breaking down MyPlate by food groups
Lawmakers look to halt sale of Lazy Cakes
McCormick to enter joint venture in India
Cal Pacifi c acquires SunOpta frozen fruit assets
Cargill Kitchen Solutions expanding in Iowa
F.M.I. hires new v.p. of food safety programs
Sealed Air to acquire Diversey for $4.3 billion
AdvancePierre Foods buys Barber Foods
Cargill acquires German chocolate business
Calavo to buy Renaissance Food Group
U.S. Foodservice acquires Great Western Meats
Clear sailing for Hain
Seneca Foods earnings down sharply in 2011
April red meat production down 4% from year ago
Sbarro now exploring alternatives to bankruptcy plan
Sherman Miller promoted to c.o.o. at Cal-Maine Foods
Nestle Health Science to acquire pharmaceutical maker
Emerging markets propel Heinz’s fi scal 2011 earnings
U.S.D.A. lowers cooking temp for some meat cuts
Campbell Soup focusing on volume sales, brand building
Buyout fi rm to acquire California Pizza Kitchen
Sanderson Farms suffers second-quarter loss
Wet weather muddies corn outlook
House bill cuts food safety funding
House panel seeks reduction in W.I.C. funding in fiscal 2012
Seeking middle market opportunities
Clear and concise
Ingredient solutions help keep it simple
Identifying natural partners for stevia
$tevia $upplier$ $eek profi t$ through international growth
Brain health for baby boomers
Bottled water volume, market share grew in 2010
Study recommends children should avoid energy, sports drinks
V8 introduces energy beverages
Smucker, Starbucks raising coffee prices
Nestle launches Aguas Frescas bottled beverage
Jamba introduces coconut water-based beverages
Enhancing water’s value
Gluten-free grains momentum
Balance Bar adds Café line
Pasta Prima launches two ravioli lines
Land O’Frost debuts Wrap Kit
Franz introduces artisan bread
Kraft launches Newtons Fruit Thins
Farley’s & Sathers adds ‘Splashers’
Häagen-Dazs introduces 2011 flavors
Mars updates Kudos granola bar line
Lifting of Russian export ban pressures world wheat market
Ingredient Markets
Packaging formats focus on convenience
Technology enables ultrasonic sealing
Ingredient’s small size aids in salt reduction
AKFP now offers arrowroot starch, pea starch
Tate & Lyle to resume U.S. sucralose production
Non-dairy ingredients achieve pareve certifi cation
Ad Index
Food Business in the News

Food Business News - June 7, 2011