February 24, 2010 / 2:03 PM / 8 years ago

UPDATE 1-Maple Leaf Foods returns to quarterly profit

* Adj EPS C$0.19 vs consensus C$0.22

* Revenue down 1 pct at C$1.32 bln

TORONTO, Feb 24 (Reuters) - Maple Leaf Foods Inc (MFI.TO), one of Canada’s largest food processors, said on Wednesday it returned to a fourth-quarter profit helped by better performances in its prepared meats and fresh poultry businesses.

Maple Leaf said it earned C$21.9 million ($20.8 million), or 16 Canadian cents a share, in the fourth quarter, that ended Dec 31, compared with a loss of C$14.6 million, or 12 Canadian cents a share, in the same period a year earlier.

Adjusted for the impact of restructuring and product recalls, the company earned 19 Canadian cents a share, compared with 12 Canadian cents for the same period a year earlier.

Revenue slipped 1 percent to C$1.32 billion.

Analysts had expected, on average, earnings per share of 22 Canadian cents on revenue of C$1.33 billion, according to Thomson Reuters I/B/E/S. ($1=$1.05 Canadian) (Reporting by Scott Anderson, editing by Dave Zimmerman)

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