While Maple Leaf Foods Inc. lost money again
during its second quarter ($39.5 million), Smithfield Foods Inc. report record
profits of $142.9 million for its second quarter – more than four times higher
than the same quarter last year.
Sales increased by 14 per cent to $3.8 billion.
Maybe it's time for Smithfield to buy Maple Leaf; it did own Schneider Corp. before it sold that company to Maple Leaf.
Smithfield executives said results were strong
in all of the company’s divisions and especially so for packaged meats and
fresh pork.
A Chinese company now known as WH Group bought
Smithfield last year.
The company says Porcine Epidemic Diarrhea
virus reduced its market-hog volume by 10 per cent, but carcass weights were
increased by three per cent.
Maple Leaf has cut back on hog production and
slaughter – it has only one remaining plant which is at Brandon, Man. – and is
concentrating on further processing meat, especially pork and poultry.
