View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
November 2, 2016

Maple Leaf earnings grow on higher sales and margins 

Maple Leaf Foods reported higher third-quarter earnings today (2 November), with growth supported by an increase in revenue and improved operating margins. 

Maple Leaf Foods reported higher third-quarter earnings today (2 November), with growth supported by an increase in revenue and improved operating margins. 

The Canadian meat processor revealed  operating earnings in the three months to 30 September rose to CAD42.3m (US$31.6m) versus CAD30.4m in the prior year. When adjusted for factors such as the fair value of biological assets, operating profit totalled CAD61.5m compared to CAD29.8m. Net earnings for the period surged 70% to CAD31.8m compared to CAD18.7m.

Canaccord Genuity analyst Derek Dley noted margins were driven by “stronger manufacturing efficiencies, increased value-add product sales, and better industry margins overall”. 

Maple Leaf said sales were up 4% year-on-year, rising to CAD852m thanks to increased  volumes and higher selling prices. 

Michael McCain, Maple Leaf’s president and CEO, said the result reflects the “consistent performance” the company expected after completing “many years of strategic transformation”.

He added: “We are now focused on the next horizon for Maple Leaf, supported by the pillars of our strategy including leading in sustainability, driving innovation and growth, consistently reducing our costs and expanding our geographic footprint. These are exciting times at Maple Leaf.” 

Related Companies

Topics in this article:
NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Friday. The industry's most comprehensive news and information delivered every other month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Just Food