Heinz Ireland increases profits despite falling market share in baked beans
Accounts show Irish arm of US giant posted revenues of €42.13 million last year but firm warns of ‘highly competitive’ grocery market
Revenue and profit at Heinz’s Irish arm increased during the year as consumer demand rose as a result of the pandemic.
Accounts filed by HJ Heinz Company Ireland, a subsidiary of the US-based Kraft Heinz business in the US, show its market share in baked beans and canned pasta declined last year due to an environmental initiative to limit plastic waste.
In a “highly competitive” grocery trade, directors at the firm said “aggressive”...
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