Maple Leaf Foods is reporting a rise in third quarter earnings. The Quebec, Canada, food company announced adjusted earnings per share increased 62% to $0.21 compared to $0.13 last year.
Adjusted operating earnings also increased with gains of 53% to $63 million from last year’s $41.1 million. The company had net earnings of $22.5 million compared to a net loss of $12.9 million over last year.
Although sales declined 4% to $1.3 billion, largely due to lower fresh meat prices, Maple Leaf launched new products to support sales and margin growth.