Heinz profits fall 11% in competitive market

THE Irish arm of US food giant Heinz recorded an 11% drop in pre-tax profits last year to €16.6 million.

According to accounts filed with the Companies’ Office, Dublin-based HJ Heinz (Ireland) also experienced an 8% drop in turnover from €118.7m to €108.9m to the year ended April 29, 2009.

The filings show the producer of such iconic brands as Heinz Ketchup and Heinz Baked Beanz also sustained a 13% drop in operating profits from €18.24m to €15.9m.