Maple Leaf Foods reports adjusted profit

Thu Apr 30, 2015 7:54am EDT
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April 30 (Reuters) - Maple Leaf Foods reported a quarterly profit on an adjusted basis due to lower operating costs as the Canadian meat processor worked through a plan to replace older meat plants.

Net loss from continuing operations narrowed to C$2.8 million ($2.41 million), or 2 Canadian cents per share, in the first quarter ended March 31, from C$124.6 million, or 89 Canadian cents per share, a year earlier.

The company, one of Canada's biggest pork processors, reported an adjusted earnings of 5 Canadian cents per share.

Total sales rose nearly 10 percent to C$780.2 million. ($1 = C$1.2036) (Reporting by Sneha Banerjee in Bengaluru; Editing by Joyjeet Das)