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Kraft Heinz: raises earnings targets for 2023

( - Kraft Heinz has raised its 2023 targets for adjusted EPS to between $2.
91 and $2.99, with adjusted EBITDA growth at constant exchange rates now between 5% and 7%, despite organic revenue growth expected to be closer to the lower end of its range of 4% to 6%.

For Q3 2023, the food group's adjusted EPS rose by 14.3% to 72 cents, while its adjusted EBITDA increased 11.9% to $1.56, on sales growth of 1% to $6.57bn (+1.7% on an organic basis).

The group is continuing to improve productivity throughout the value chain, reinvesting gross efficiency gains in marketing, technology and research and development, management says.

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