The company that runs all the Kraft Heinz brands in Ireland, HJ Heinz Company (Ireland) Ltd., said that it grew its market share of tomato ketchup in the Republic of Ireland by 1.5% to 59.3% last year.

Pre-tax earnings for the company climbed as revenues for the 53 weeks leading up to the end of December jumped by 14%, from €44.02 million to €50.08 million.

The directors said that the firm expanded in 2022 “due to increased pricing, distribution wins in sauces and meals, and a rebound in the food service and infant businesses due to the full removal of Covid restrictions which had impacted both in previous year”.

They stated that the grocery industry “continues to be highly competitive with a number of strong indigenous and international brands across the various sectors in which the business operates.”

According to the firm's financial statements, “the company is working collaboratively with its retail partners to help mitigate these inflationary pressures.” The company's operating sectors “are also feeling significant inflationary pressure.”

Directors stated that price increases, distribution gains, and enhanced feature and display were the main drivers of increased market share for key categories, such as mayonnaise and wet ambient soup.

The company also said that its market share for canned pasta fell by 1.7% to 86.7% and for canned beans, it fell by 1% to 33.7%.

The firm stated that they anticipate a general decrease in sales volume due to the influence of elasticity in sauces and meals.

The US-based company distributed a €4.5 million dividend the previous year, after paying a €5 million payout the year before.

Operating earnings for the firm dropped from €5.76 million to €5.42 million, a 5% decrease.

In 2022, the company's post-tax profits were €5.2 million, following a €867,000 corporation tax bill. By December 31st, the company had made €6.89 million in earnings.

The number of workers rose from two to seventeen, while staff expenses went from €2.75 million to €3.1 million. Employee expenses consist of €19,00 in pension contributions and €431,000 in emoluments for directors, totalling €450,000 in salary.