Canada's Maple Leaf Foods reports first-quarter profit

Wed May 4, 2016 7:39am EDT
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May 4 (Reuters) - Canadian meat processor Maple Leaf Foods Inc reported a first-quarter profit, compared with a year-ago loss, helped by higher earnings in its meat products business.

The company's net earnings were C$42.3 million ($33.2 million), or 31 Canadian cents per share, in the quarter ended March 31, compared with a loss of C$2.9 million, or 2 Canadian cents per share, a year earlier.

Total sales rose 2.1 percent to C$796.9 million. ($1 = 1.27 Canadian dollars) (Reporting by Rod Nickel in Winnipeg, Manitoba and Arathy S Nair in Bengaluru; Editing by Maju Samuel)