TORONTO — Maple Leaf Foods Inc.’s fourth quarter results for the year ended Dec. 31, 2009 have been revealed, and the numbers show a marked improvement from 2008.
Highlights of the report include: an adjusted EPS increase to $0.19, compared to $0.12 last year; an adjusted operating earnings increase to $57.8 million from $35.4 million; and net earnings of $21.9 million, compared to a net loss of $14.6 million.
“In 2009, we substantially completed the restructuring of our protein operations and focused our company on higher margin consumer packaged goods,” said Michael H. McCain, company president and CEO. “Looking ahead, our priority is to increase earnings and margins to levels consistent with our peers. We have work to do on this goal and it will involve achieving the full potential of our prepared meats business, investing in our plant network to reduce costs and delivering higher levels of organic growth.”
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