Maple Leaf Foods Inc. reports a loss of $29.9 million for its
first quarter this year, up from $27.9 million for the same quarter last year.
President and Chief Executive Officer Michael McCain remains
optimistic, however, saying the company’s plans to transition meat processing
to a new central facility in Hamilton are proceeding on schedule.
He cited higher pork prices as one of the reasons why the
company is facing challenges.
Price increases were the main reason why revenues increased
by 3.2 per cent to $711 million.
McCain said the company will book the sale of its 90 per
cent ownership in Canada Bread during the second quarter.
