March 15, 2012 / 11:38 AM / 6 years ago

Premium Brands profit falls as costs rise

(Reuters) - Canada’s specialty food maker Premium Brands Holdings Corp (PBH.TO) reported a 63 percent fall in fourth-quarter profit hurt mainly by high input costs.

The company’s earnings fell to C$1.52 million, or 7 Canadian cents a share, from C$4.06 million, or 22 Canadian cents a share, a year ago.

Excluding items, the company earned C$2.5 million, or 13 Canadian cents per share.

Revenue for the Richmond, British Columbia-based company rose 60 percent to C$250.6 million.

Selling, general and administrative expenses for its retail segment more than doubled to C$25.9 million on recent acquisitions and higher freight and fuel costs, the company said in a statement.

    Shares of Premium Brands closed at C$17.09 on Wednesday on the Toronto Stock Exchange.

    Reporting by Maneesha Tiwari in Bangalore; Editing by Don Sebastian

    0 : 0
    • narrow-browser-and-phone
    • medium-browser-and-portrait-tablet
    • landscape-tablet
    • medium-wide-browser
    • wide-browser-and-larger
    • medium-browser-and-landscape-tablet
    • medium-wide-browser-and-larger
    • above-phone
    • portrait-tablet-and-above
    • above-portrait-tablet
    • landscape-tablet-and-above
    • landscape-tablet-and-medium-wide-browser
    • portrait-tablet-and-below
    • landscape-tablet-and-below