(Mississauga) Maple Leaf Foods posted a profit in its latest quarter, compared to a loss a year ago, while its sales fell slightly.
The company says its profit rose to 51.6 million, or 42 cents per share, for the quarter ended March 31, compared with a loss of 57.7 million, or 48 cents per share, a year earlier.
Sales totaled 1.15 billion, down from 1.17 billion in the same period last year.
The company says sales at its prepared foods operating unit fell 0.4% from last year. Sales of prepared meats increased by 2.9%, but this increase was offset by a 5.7% drop in vegetable proteins as well as a 7.1% decline in poultry sales compared to the previous year. last year.
Pork business unit sales fell 4.5% compared to the first quarter of 2023.
On an adjusted basis, Maple Leaf Foods reported earning four cents per share in its most recent quarter, compared to an adjusted loss of 12 cents per share a year earlier.
Companies in this report: (TSX: MFI)