(MENAFN) US Warren Buffett's Berkshire Hathaway said that second quarter profit increased by 46 percent because of improved demand in such business as car insurance, energy and railroad, as well as gains from investments and derivatives, Gulf Daily News reported.
"It's about as good as you could expect," said Jeff Matthews, a Berkshire shareholder and author of Secrets in Plain Sight: Business and Investing Secrets of Warren Buffett.
In June, he spent USD12.3 billion to buy part of HJ Heinz Company, the maker of ketchup and Ore-Ida potato products.
The quarter also included USD622 million of net gains from investments and derivatives, compared with a year-earlier USD612 million net loss.
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