Maple Leaf profits plunge

Maple Leaf Foods Inc. reports a drop in profits from $59 million to $11.9 million for the fourth quarter, and a drop from $164 million to $101 million for the year.

Fourth-quarter sales increased by two per cent to $894 million, but for the year were down by almost one per cent to $3,496 million.

Included in the fourth-quarter report is a “restructuring” cost of $46 million and a $250-million contribution towards building a new poultry processing plant at London