Go to the Globe and Mail homepage

Jump to main navigationJump to main content

File photo of Maple Leaf Foods plant in Kitchener, Ont. (Tim Fraser For The Globe and Mail)
File photo of Maple Leaf Foods plant in Kitchener, Ont. (Tim Fraser For The Globe and Mail)

Maple Leaf Foods profit drops Add to ...

Maple Leaf Foods Inc. experienced a drop in net earnings during the third quarter, as the Toronto-based meat and bakery company saw revenue decline from a year earlier and it wrote down the value of some assets.

Maple Leaf’s net earnings dropped to $32.6-million, from $43-million in the third quarter of 2011.

More Related to this Story

Revenue slipped to just under $1.24-billion from just over $1.26-billion.

The lower profit was largely due to a $13-million decrease in the fair value of the company’s biological assets.

Maple Leaf’s adjusted operating earnings, which exclude non-operating items including the writedown, improved to $76.3-million from $73.3-million.

Earnings per share before adjustments was 22 cents abd 29 cents per share after adjustments in the three months ended Sept. 30.

A year earlier, Maple Leafs earned 29 cents per share before adjustments and 34 cents per share after adjustments.

Follow us on Twitter: @GlobeInvestor

 
Security Price Change
MFI-T Maple Leaf Foods 20.32 -0.08
-0.392 %
Add to watchlist
Live Discussion of MFI on StockTwits
More Discussion on MFI-T

More Related to this Story

Topics:

In the know

Most popular video »

Highlights

More from The Globe and Mail

Most Popular Stories