Maple Leaf Foods earnings boosted

by 5m Editor
29 July 2005, at 12:00am

TORONTO - Maple Leaf Foods Inc. saw second-quarter earnings rise 18 per cent to $33.2 million, from $25 million, despite a drop in revenue due to lower prices for pork and poultry. Sales at the large Toronto-based food processing company fell to $1.7 billion, a one per cent drop over the same period of 2004. &quot;The decline in the primary processing margins in fresh pork and the commodity poultry margins here in Canada was very substantial in the quarter,&quot; chief executive Michael McCain told analysts during a conference call yesterday. &quot;In the case of pork, a well over 100 per cent decline year-over-year.&quot; Poultry processing margins fell 63 per cent year-over-year. <i>Source:</i>

5m Editor