Maple Leaf Foods posts loss after taking $191 million hit on its plant protein business

The company says the loss amounted to $1.86 per share for the quarter ended Sept. 30 compared with a profit of $44.5 million or 36 cents per share in the same quarter last year.Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails.

On an adjusted basis, Maple Leaf says it lost a penny per share in its latest quarter compared with an adjusted profit of 38 cents per share in the same quarter last year as a result of weaker commercial performance due to inflation and labour challenges.The company says the increase was driven by higher sales in its meat protein group, partially offset by lower sales in the plant protein group.

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Maple Leaf Foods posts loss after taking $191 million hit on its plant protein businessMaple Leaf Foods Inc. reported a third\u002Dquarter loss as it took a one\u002Dtime charge related to the value of its plant protein business. Read on In January 2020 the maple leafs ceo went political; spouting off against the USA. When Iran shot down their own plane. The problem, it's not his job to be political. They make political decisions which has resulted in -50% over last 5 years. This is what happens when you buy in to trends set by politicians + activists instead of the public at large. Most suspect in 40 years scientists will come out saying lab meat causes cancer. We’ve seen it too many times to trust the science that it’s safe. Because no one wants to that chemical lab created shit. Any potential benefits to eating fake meat are outweighed by the absurd amount of salt, sugar, and additives. Fake meat products are the most health-washed products out there.
Fuente: nationalpost - 🏆 10. / 80 Leer más »

Maple Leaf Foods takes plant protein business charge and reports Q3 loss, sales up - BNN BloombergMaple Leaf Foods reported a third-quarter loss of $229.5 million as it took a one-time charge related to the value of its plant protein business. Based on the selection at my local supermarket, I'd say they already have: Can’t replace meat favour with chemicals Garbage out, garbage in…
Fuente: BNNBloomberg - 🏆 83. / 50 Leer más »