Profits fall 15% at Irish arm of Heinz

THE Irish arm of US food giant Heinz recorded a 15% drop in pre-tax profits last year to €14 million, with directors citing the highly competitive Irish grocery market as a key reason.

According to accounts just returned to the Companies’ Office, HJ Heinz Company (Ireland) sustained a 7% drop in turnover from €108.9m to €101m to the year ended April 28 last. It also sustained an 18% drop in operating profits from €15.9m to €13m.

The company’s Irish operation — north and south — is engaged in the sales, marketing and distribution of all Heinz brands.