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Cultura

Sales at Kraft, Heinz fall in first quarterly results as merged company


    (Reuters) - Kraft Heinz Co , formed from the merger of Ketchup maker H.J. Heinz Co and packaged food company Kraft Foods Group Inc, said sales fell 4.9 percent at Kraft and 4.1 percent at Heinz in its first quarterly results as a combined company.

    Sales at Kraft fell due to weak demand for its beverages and lower pricing, while a strong dollar hurt sales at Heinz.

    Kraft's net income rose to $551 million, or 92 cents per share, in the second quarter ended June 27, from $482 million, or 80 cents per share, a year earlier.

    Net loss attributable to Heinz shareholders widened to $344 million, or 91 cents per share, from $53 million or 14 cents per share, a year earlier.

    Kraft's net revenue fell to $4.52 billion from $4.75 billion, while Heinz's revenue fell to $2.62 billion from $2.73 billion.

    H.J. Heinz Co, backed by Warren Buffett's Berkshire Hathaway Inc (BRKa.N) and Brazilian private equity firm 3G Capital, combined with Kraft Foods Group Inc in July to create the third-largest North American food company.

    (Reporting by Ramkumar Iyer in Bengaluru; Editing by Saumyadeb Chakrabarty)