Canadian meat processor Maple Leaf Food's loss narrows

Thu Jul 30, 2015 5:25pm EDT
 
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July 30 (Reuters) - Canadian meat processor Maple Leaf Foods Inc reported a smaller quarterly loss as restructuring costs fell about 64 percent.

The company's net loss from continuing operations narrowed to C$7.5 million ($5.8 million), or 5 Canadian cents per share, in the second quarter ended June 30, from C$39.5 million, or 28 Canadian cents per share, a year earlier.

Sales fell 1.3 percent to C$820.8 million, hurt by lower selling prices.

Maple Leaf Foods is near the end of a multi-year program to upgrade its meat operations. ($1 = C$1.30) (Reporting by Tanvi Mehta in Bengaluru and Rod Nickel in Winnipeg; Editing by Sriraj Kalluvila)