Premium Brands profit falls as costs rise

Thu Mar 15, 2012 7:35am EDT
 
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(Reuters) - Canada's specialty food maker Premium Brands Holdings Corp PBH.TO reported a 63 percent fall in fourth-quarter profit hurt mainly by high input costs.

The company's earnings fell to C$1.52 million, or 7 Canadian cents a share, from C$4.06 million, or 22 Canadian cents a share, a year ago.

Excluding items, the company earned C$2.5 million, or 13 Canadian cents per share.

Revenue for the Richmond, British Columbia-based company rose 60 percent to C$250.6 million.

Selling, general and administrative expenses for its retail segment more than doubled to C$25.9 million on recent acquisitions and higher freight and fuel costs, the company said in a statement.

Shares of Premium Brands closed at C$17.09 on Wednesday on the Toronto Stock Exchange.

(Reporting by Maneesha Tiwari in Bangalore; Editing by Don Sebastian)