Canadian food processor Canyon Creek Food Co swung into loss during the second quarter, as the company spent more on repairs, maintenance and higher quality assurance costs.
The soup and prepared food manufacturer said today (4 February) that it recorded a C$43,304 (US$43,712) loss for the quarter, against a C$6,463 profit in the same quarter of the previous year.
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Sales were also down 14.6% during the quarter to C$1.1m, which it attributed to a “softer consumer off take on the retail segment”.
Commenting on the results, president Terence Alty said: “Though we were pleased about our improvements on an operational basis, we are disappointed with the performance on the revenue side of the equation. Our focus now is increasing our top line through innovative product offerings that we believe have wide consumer appeal and will attract both retailers and food service operators.”
