Maple Leaf Foods posts loss on weaker sales

Wed Jul 31, 2013 8:26am EDT
 
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WINNIPEG, Manitoba, July 31 (Reuters) - Canadian food processor Maple Leaf Foods reported a quarterly loss on Wednesday as sales fell in its meat products and protein units, the company said.

Net earnings for the second quarter fell to nil, or a loss of 2 Canadian cents a share, from a profit of C$26 million, or 17 Canadian cents, a year before. Sales of C$1.214 billion were down 3.7 percent.

Adjusted to exclude one-time costs such as restructuring, Maple Leaf reported earnings of 2 Canadian cents, down sharply from 23 cents a year earlier.