But is it enough?
Heinz Wattie’s NZ made its first profit since 2021 in the twelve months ended December 2025.
But this was only $827,000 from revenue of $666.8 million … that’s 0.12%. Pretty grim. In 2021 the net profit was $10.7 million.
Revenue was down for condiments, convenience meals, infant feeding, pet food and – important in terms of the Hastings plant reduction – frozen food, which accounted for $129 million in revenue, down 14%.
So none of this changes the course of announced Hastings pull-back. Beyond that …
Good enough results for corporate headquarters in Pittsburgh and Chicago – and 37% owner Warren Buffett?
That’s a pitiful return on investment so I can see why they want to close down. It also points out the economy downturn – people just aren’t buying while stuff like power, rent etc are increasing all the time – so food is low on the budget unless it’s a really cheap option. We’ve really managed to screw up the world with all the megalomaniacs in charge with their stupid power trips