Sunday, December 3, 2023

Kraft Heinz registered a 42.4% increase in its net income

Food giant Kraft Heinz recorded a 42.4% increase in its net profit in the first nine months of the year. Net sales also increased by 1%. The company’s CEO emphasized the growth of all key areas of the business and the importance of reinvesting in marketing, technology and research. In 2023, organic growth in net sales and income is expected.

The food giant The Kraft Heinz reported a net profit of 2,098 million dollars (about 1,990 million euros) in the first nine months of the year, which represents an increase of 42.4% compared to the same period last year. . The company, owner of recognized brands such as Heinz, Oscar Mayer and Philadelphia, recorded net sales of a total of 6,570 million dollars (about 6,231 million euros) in the same period, an increase of 1 %.

The CEO of Kraft Heinz, Miguel Patricio, emphasized that The results of the third quarter of this year were marked by the growth of net sales in the three main pillars of the group: food services, emerging markets and retail growth platforms in the United States.. Patricio also promotes the improvement of productivity throughout the value chain, reinvesting gross efficiencies in sales, technology and research and development as an important part of the company’s strategy .

For the entire year 2023, Kraft Heinz projected organic net sales growth of 4% to 6% compared to last year, which focused on the lower end of the projected range. In addition, full-year earnings per share are expected to be in the range of $2.91 to $2.99 ​​​​​​(between €2.75 and €2.83). The company remains focused on building its business for continued success and sees these investments in marketing, technology and research as a fundamental part of its strategy.

World Nation News Desk
World Nation News Desk
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