Kraft Heinz has wrong ingredient as sales drop 3.7 per cent
Kraft's share price fell in after-hours trading after its net profit missed forecasts.
The figures
Fourth quarter sales at the maker of Heinz ketchup and Kraft macaroni cheese fell 3.7 per cent, down from $7.12bn to $6.86bn.
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Net profit, however, increased year-on-year from $285m to $944m, a jump of over 200 per cent.
Why it's interesting
Diluted earnings came in at 77 cents per share. Adjusted earnings per share came in at 91 cents per share, higher than the 87 cents per share that analysts were expecting.
What Kraft Heinz said
Kraft Heinz chief executive Bernado Hees said: "Looking forward, our objectives and opportunities are clear. But we need to sharpen our focus on profitable sales, and further improve our capabilities and execution to deliver another year of strong, sustainable growth in 2017."