Thursday, July 27, 2017

Maple Leaf sales, profits soar

Maple Leaf Foods earned an 18.8 per cent increase in net earnings during its second quarter - $37.3 million compared with $31.4 million for the same quarter last year.

Sales increased by 8.3 per cent to $926 million.

President and chief executive officer Michael McCain said the company is now focused on maintaining profits.

During the quarter it bought a company in the United States that makes meat substitutes, positioning the company to be sustainable if and when meats fall out of consumer favour.