Canadian snack foods maker Humpty Dumpty has reported a 66.5% fall in quarterly profit, due to higher frying oil costs and the strong Canadian dollar.
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The company posted net income of C$0.37m (US$0.28m), or 4 cents per share, for the first quarter to 31 December, compared with net income of $1.1m, or 11 cents per share, a year earlier, reported Dow Jones News.
Net sales rose to $43.7m, from $42.6m in the year-ago period.
The company said increased retailer support for its Humpty Dumpty brand had been partially offset by weak private label sales and the stronger Canadian dollar.
Humpty Dumpty Snack Foods said it expects the cost of frying oil to begin to return to normal during the second quarter.
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