Maple Leaf Foods profit up on overall sales growth

(Reuters) — Pork processor Maple Leaf Foods Inc. posted a quarterly profit that beat analysts’ estimates, helped by growth across all its businesses.

The company, whose brands include Schneiders and Maple Leaf, said adjusted operating earnings rose to $65.15 million in the third quarter from $61.52 million a year earlier.

Maple Leaf’s sales increased 6.6 percent to $908.4 million.

The company’s net earnings jumped 18.2 percent to $37.6 million, or 29 cents per share, in the quarter ended Sept. 30.

Excluding items, the company earned 39 cents per share, beating the average analyst estimate of 38 cents, according to Thomson Reuters I/B/E/S.

The company said the prepared meats business, its biggest, witnessed margin compression due to high raw material costs.

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