Heinz plans to post higher earnings, shares rise
Aug 28 (Reuters) - H.J. Heinz Co expects to report higher earnings and sales for the just-ended first quarter, helped by growth in emerging markets, improved productivity, higher margins and a favorable tax rate.
Speaking at the ketchup maker's annual shareholders' meeting on Tuesday, Chief Executive William Johnson said the company is on track to deliver its previously announced forecast for fiscal 2013.
Heinz said it plans to report earnings of 87 cents per share and organic sales growth of almost 5 percent on Wednesday.
Its shares rose $1.07, or 1.9 percent, to $57.53 on the New York Stock Exchange.
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