Monday, May 13, 2019

Premium Brands smashes sales records

Premium Brands’ first-quarter revenues were $776 million compared with $585 million for the same quarter last year, a reflection of the company’s strategy to grow by buying food-processing companies.

It has become a major customer for Canadian farmers, including the livestock industry in Ontario where it owns Belmont Meats and Piller’s Sausages and Delicatessens and several other companies.

Although sales rose sharply, profits dipped from $13.2 to $10 million.
The company said the numbers are in line with its expectations.