February 28, 2014

Maple Leaf Foods reports losses in Q4




Maple Leaf Foods Inc. posted a fourth-quarter net loss from continuing operations of CAD14.45 million (US$13 million) or CAD0.13 (US$0.12) per share, compared to profit of CAD40.95 million (US$36.8 million) or CAD0.27 (US$0.24) per share, prior year.


Earnings per share to shareholders was CAD3.58 (US$3.22), compared to prior year's CAD0.34 (US$0.31). Adjusted loss per share in the fourth quarter of 2013 was CAD0.25 (US$0.22).


On average, four analysts polled by Thomson Reuters expected the company to report profit per share of CAD0.03 (US$0.027) for the quarter. Analysts' estimates typically exclude special items.


Sales dropped to CAD1.11 billion (US$998 million), compared to previous year's CAD1.13 billion (US$1.02 billion). Fourth-quarter sales declined 2.1% from last year, or 0.7% after adjusting for the impacts of divestitures and foreign exchange, due to lower volumes which were partly offset by higher pricing. Analysts expected revenue of CAD1.11 billion (US$988.6 million) for the quarter.