Maple Leaf Foods reports year-over-year profit loss
Company says its third quarter was a challenging period thanks to trade instability
Maple Leaf Foods Inc. saw its third-quarter profit fall compared with a year ago as its sales also slipped lower.
The company says it earned $26.6 million for the quarter ended Sept. 30, compared with a profit of $37.6 million a year ago.
Sales totalled $874.8 million, down from $908.4 million.
Maple Leaf chief executive Michael McCain called it a challenging period, driven by temporary global trade instability.
"These abnormal markets have no impact on our core business strategies or our longer-term financial goals," McCain said in a statement.
"We are focused on key levers of value creation over time, including our sustainability agenda, our brands, strategic acquisitions and cost reduction."