Canadian food maker Canyon Creek Food Co. has posted lower annual losses as a reduced ingredients bill and better efficiencies boosted margins.

The company yesterday (19 October) booked a net loss of C$648,484 (US$630,507) for the 12 months to the end of May, down from C$1.1m a year earlier.

The improved bottom line came despite a 25% drop in sales. Canyon Creek said sales fell 25.2% – without disclosing a specific figure. The group said it had suffered a “further decline” in its retail business.