MISSISSAUGA – Maple Leaf Foods Inc. says it earned a first-quarter profit of $49.6 million, down from $51.6 million a year ago, as its sales rose eight per cent.
The company says the profit amounted to 40 cents per share for the quarter ended March 31, down from 42 cents per share in the same quarter last year.
On an adjusted basis, Maple Leaf says it earned 43 cents per share in its latest quarter, up from an adjusted profit of four cents per share a year earlier.
Sales for the quarter totalled $1.24 billion, up from $1.15 billion a year ago. Maple Leaf says prepared food sales increased 7.1 per cent, while poultry sales increased six per cent. Pork sales rose 12 per cent.
Maple Leaf is working to spin off its pork business into a new, publicly traded company to be called Canada Packers Inc. this year.
It says shareholders are expected to vote on the plan at a meeting set for June 11, with the deal on track to close in the second half of the year.
This report by The Canadian Press was first published May 8, 2025.
Companies in this story: (TSX:MFI)
