Canadian food group Maple Leaf Foods has booked a drop in second quarter net profits.

Net earnings, which include a non-cash pre-tax charge of C$20.7m (US$20m), dropped to $3m in the quarter, compared to $4.9m last year.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

The impact of the interest rate swaps was partly offset by the benefits of increased adjusted operating earnings and lower restructuring costs and interest expense.

Adjusted operating earnings increased 20% to C$52.2m, while sales decreased 4% to C$1.27bn.

Sales declined due to currency impacts on US and UK bakery operations and fresh pork sales, and lower sales volumes in prepared meats.

These impacts were partly offset by higher sales values of fresh pork.

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

Just Food Excellence Awards - Have you nominated?

Nominations are now open for the prestigious Just Food Excellence Awards - one of the industry's most recognised programmes celebrating innovation, leadership, and impact. This is your chance to showcase your achievements, highlight industry advancements, and gain global recognition. Don't miss the opportunity to be honoured among the best - submit your nomination today!

Nominate Now