(Reuters) — Maple Leaf Foods reported a better-than-expected quarterly profit, helped by higher earnings in its prepared meats business.
Adjusted operating earnings in the meat products segment rose nearly eight-fold to $61.3 million in the first quarter, helped by lower operating costs and price increases.
Overall net earnings were $42.3 million in the quarter ended March 31, up from a loss of $2.9 million a year earlier.
On an adjusted basis, Maple Leaf earned 28 cents per share.
Total sales rose 2.1 percent to $796.9 million.
