Thursday, July 30, 2020

Maple Leaf profits rise

Maple Leaf Foods reported increased sales and profits for its second quarter.
Sales increased by seven per cent to more than $1 billion.
Meat Protein Group sales increased by 5.8 per cent and plant protein sales by 41 per cent.
More hogs were processed and sales to Asian markets increased.
Net earnings were $25.7 million compared with a net loss of $6.3 million last year.
Gross costs associated with COVID-19 were about $20 million.
Capital spending was $102.0 million of which $62.8 million was for a new poultry processing plant being built at London.