Maple Leaf posts higher in­come af­ter over­haul

The Hamilton Spectator - - BUSINESS -

Maple Leaf Foods had $31.4-mil­lion in net in­come for the sec­ond quar­ter — the lat­est in a string of prof­itable earn­ings re­ports since the com­pany com­pleted a ma­jor multi-year over­haul of its op­er­a­tions. The com­pany says it earned 23 cents per share of net in­come in the sec­ond quar­ter. That com­pares with a year-ear­lier loss of $7.5 mil­lion or five cents per share, which marked the be­gin­ning of a bot­tom­line re­cov­ery for one of Canada’s largest food com­pa­nies. A big rea­son for the im­prove­ment in this year’s sec­ond quar­ter was higher op­er­a­tional earn­ings from the com­pany’s meat prod­ucts group, which rose to $62.9 mil­lion from $17.7 mil­lion last year, as well as lower costs else­where. Maple Leaf ’s sales were $854.6 mil­lion, com­pared to $820.8 mil­lion last year — pri­mar­ily from the meat prod­ucts group in both years.

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