The group has trimmed its full-year forecast and said it will sell assets to the tune of about €1bn to help cut debt.

On upgraded full-year forecasts of around £19m the multiple is 18 at 243p falling to 15 for 1992-93.

The full-year forecast was increased to "at least" 500 million euros in operating profit, up from 400 million euros, the company said.

The company left its full-year forecasts unchanged and still expects to earn a 495 billion yen ($4.1 billion) profit.

Fujitsu dismayed IT analysts earlier in the year by hanging onto its full-year forecast.

But the company also stood by its full-year forecast, rather than raising it, and Heinz shares fell.

Mr. Bryant declined to provide a full-year forecast.

It also scrapped full-year forecasts, saying it was no longer "appropriate to provide annual targets for 2011".

The company said it would not make a full-year forecast until it saw sales results from July and August - crucial months in the beer business.

Wal-Mart Stores beat earnings expectations in the quarter, and raised its full-year forecast.