Tuesday, November 8, 2022

Maple Leaf sales up, but $229.5 million loss

Sales increased by 3.8 per cent to $1,194.5 million, but Maple Leaf Foods Inc.’s profits declined from $44 million to a loss of $229.5 million for the third quarter of its fiscal year.

The plant protein division had a sales increase of 12.5 per cent to $42.6 million, but the company took a $190-million write-down of goodwill for that business.

The company completed construction of a poultry-processing plant at London and equipment trials are now underway. The new plant will consolidate operations from a number of smaller and older plants across the province.