SunOpta has indicated that it expects to book a loss in its fourth quarter in spite of “record” revenues during the period.
In the final three months of its fiscal year, SunOpta said it expects to report a loss from continuing operations of C$1.1-1.6m (US$990,000-1.4m).
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The natural and organic food company said that a number of issues – including a product recall and product line rationalisation – resulted in a post-tax expenses of $6m. SunOpta said that profitability was also hit by “margin challenges on domestic raw materials”.
However, the company emphasised that sales in the period rose to a “record” high of $285m, up 5.6% year-on-year.
SunOpta will report its full-year and fourth quarter results in early March.
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