CANADA: Maple Leaf sees Q2 operating earnings up 24%
Leading Canadian food processing company Maple Leaf Foods has posted a 4% increase in sales to C$1.3bn (US$0.83bn) for its Q2 ended 30 June, compared to US$1.2bn for the same period last year. The Toronto-based firm said that the result was especially positive result considering the "substantial decline in many key underlying commodity values". Earnings from operations of C$51.3m increased 24% from C$38.9m last year, principally due to very strong results in the Bakery Products Group and higher Meat Products earnings. Net earnings for the Q2 reached C$22.6m (C$0.19/share), up 27% from C$12.8m (C$0.12/share) in 2001.
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