Heinz first-quarter profits decrease

Heinz, the world’s biggest ketchup maker, said first-quarter profit fell to $194.8 million (€160.4m).

Net income decreased to 55 cents a share from $214 million, or 60 cents, a year earlier, when Heinz had gains from selling some businesses, the company said in a statement. The company was expected to earn 55 cents a share, the average estimate of nine analysts surveyed by Thomson Financial.