Maple Leaf posts profit as margins in meats business improves

Tue Mar 1, 2016 7:15am EST
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March 1 (Reuters) - Canada's Maple Leaf Foods reported a quarterly profit, compared with a year-ago loss, helped by improved margins in its prepared meats business.

The company posted a net profit of C$33.3 million ($24.6 million), or 24 Canadian cents per share, for the fourth quarter ended Dec. 31.

It lost C$28.2 million, or 20 Canadian cents per share, a year earlier.

Maple Leaf, which has now posted a profit in only three of the past 12 quarters, said revenue rose nearly 10 percent to C$873.1 million in the latest quarter. ($1 = C$1.35) (Reporting by Rod Nickel in Winnipeg, Manitoba and Anet Josline Pinto in Bengaluru; Editing by Savio D'Souza)