CANADA: SunOpta posts loss for nine-month period

By: just-food.com | 6 November 2009

Canadian natural food group SunOpta posted a loss for the first nine-months of the year and said its primary focus is on the improvement of operating margins.

The company made a loss for the period ended 30 September of US$7.3m compared to a profit of US$7.7m in the previous year.

Loss of earnings attributable to SunOpta amounted to $4.5m compared to $6.1m in the prior year.

The group also saw revenues decline, dipping to $743.6m versus revenues of $810.1m for the first nine months of 2008.

Steve Bromley, president and CEO of SunOpta said: "Our primary focus continues to be the improvement of operating margins and return on assets employed, to be realized through a combination of aggressive working capital management and continuous improvement initiatives.

He added: "We are confident that our cost control, efficiency, product development and asset utilization initiatives are key to delivering long term sustainable returns as interest in health and wellness continues to gain attention around the globe."

The company did not provide revenue and earnings guidance for 2009 and said it will provide updates "when appropriate" related to material changes in business affairs resulting from changes in the business and related economic conditions.

Sectors: Natural & organic

Companies: SunOpta