Maple Leaf Foods President and CEO Michael McCain says the first quarter of this year was a milestone for the company.
McCain reports the company posted net earnings of 42 point 3 million dollars, compared to a net loss of 2 point 9 million last year.
He says they've delivered on their financial target and commitment to shareholders that they would build a sustainably more profitable company.
Maple Leaf's Meat Products Group posted 61 point 3 million dollars in adjusted operating earnings for the first quarter, up from last year's 7 point 9 million.
McCain credits operating efficiencies in the new prepared meats plant network, primarily the new Hamilton facility, for at least some of that increase.
However, its Agribusiness Group posted a loss of 7 point 7 million, compared to last year's 2 point 5 million dollars in earnings.
