Canadian food group SunOpta has booked a drop in first-quarter earnings, despite record” revenues.
The company said operating income fell to C$10.7m from $12.8m last year. Earnings were hit by lower margins due to poor crop quality after last year’s drought conditions. Net earnings fell to $5.1m, compared to $5.9m in the comparable period of 2012.
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Sales at the speciality food group rose 9% to $282.8m, the company added. “We continue to experience strong momentum across our business segments and are pleased with our record revenues in the first quarter,” CEO Steve Bromley said.
