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Kraft Heinz's quarterly profit drops 3.1 pct
May 3, 2017 / 8:14 PM / 7 months ago

Kraft Heinz's quarterly profit drops 3.1 pct

May 3 (Reuters) - Kraft Heinz Co, North America’s third-largest food and beverage company, reported a 3.1 percent fall in quarterly profit on Wednesday, hurt by a strong dollar and weak demand in the United States and Canada.

The company, which owns brands such as Velveeta cheese and Heinz ketchup, reported net income of $893 million, or 73 cents per share, in the first quarter ended April 1, compared with $896 million, or 73 cents per share, in the year-earlier period.

Net sales fell to $6.36 billion from $6.57 billion. (Reporting by Gayathree Ganesan in Bengaluru; Editing by Martina D‘Couto)

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