Maple Leaf Foods Inc. lost $311 million last year, even though revenues increased by 4.8 per cent to $4.7 billion.
The loss compares with a profit of $102.8 million in 2021.
The company said strong performance in its packaged meat products business were more than offset by "weaker results in pork processing and hog production operations, inflation and labour challenges."
The company booked an "impairment charge" of $190.9 million on its plant protein business and said that also increased its costs for interest on debts by $33.2 million.
A cyber attack cost the company at least $23 million.
The plant products division's sales declined by eight per cent and it lost $36.5 million compared with a profit of $12.8 million in 2021.
