MAPLE LEAF FOREVER
Maple Leaf Foods Inc. has turned a profit only twice in its past nine quarters as it finishes off a seven-year, $1-billion restructuring that has closed nine plants while opening new ones, sold divisions such as its Canada Bread bakery and a pasta maker, and cut 1,500 low-skilled jobs. As a result, the maker of meats such as Shopsy’s, Schneiders and its well-known eponymous brand dropped 42 spots to No. 140, the second-biggest tumble out of the top 100. The fall is despite a 6.9% increase in revenue to almost $3.2 billion, which perhaps shows the strength of the biggest companies in Canada more than anything else.
On the other hand, its investors are probably pretty happy with how things are turning out. Maple Leaf Foods stock has risen 184.8% since March 2009, including a 22.5% increase in 2015 through May 4. Things could get even better since the world’s appetite for protein is only expected to increase as middle-class consumers grow in emerging markets. And if bacon really is your thing, the company was looking for you in May as it launched a public nationwide search for a new marketing manager for its bacon division. The job offers a competitive salary and benefits package that includes a free package of bacon every week.
The biggest drop on the FP500 was by Harvest Operations Corp., the Canadian subsidiary of Korea National Oil Co., which fell 266 spots to No. 348. Other big droppers included long-term health-care provider Extendicare Inc. (174 spots to No. 365), waste handler Newalta Corp. (106 spots to No. 469), and publisher TorStar Corp. and pharmaceutical maker Abbott Laboratories Ltd., both of which dropped 90 spots to No. 357 and No. 458, respectively.
FELL 42 SPOTS