Maple Leaf Foods had huge sales increases for the first quarter, yet lost $3.7 million.
Sales increased by 12.8 per cent to $1,022.8 million.
Plant protein sales increased by 26 per cent.
The net loss compared with a profit of more than $50 million for the same quarter last year.
The company lost money on derivatives for hog contracts and that’s reflected in a $14.7-million decline in “biological assets” which include its hog farms.
Despite lots of uncertainties, the company said “expectations for the financial performance of its business in 2020 remain largely unchanged.”
It said measures to mitigate risks from COVID-19 are increasing its costs.
