FILE PHOTO: Bottles of salad dressing made by food conglomerate Kraft Heinz are seen on a supermarket shelf in Seattle
FILE PHOTO: Bottles of salad dressing made by food conglomerate Kraft Heinz are seen on a supermarket shelf in Seattle

Kraft Heinz to report half-yearly results in August

By Aishwarya Venugopal Time of article published Jul 31, 2019

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INTERNATIONAL – Kraft Heinz said on Wednesday it would report results for the first six months of the year on the 8th of August 2019, its first financial statement since disclosing a more than $15 billion (R213bn) writedown on its iconic Kraft and Oscar Mayer brands.

Since the writedown in February, Kraft Heinz has appointed a new chief executive officer and restated its earnings for nearly three years following a regulatory investigation into lapses in its procurement practices.

The packaged food company said it was now required to provide first-quarter financial statements on or before the 13th of August 2019. The company had previously said it would file its quarterly report for the quarter ended March 30 on or before July 31.

Kraft’s shares were marginally up in premarket trading. The stock has fallen 34 percent since Feb. 21, when the company disclosed the writedown and the SEC investigation.

Reuters

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