Maple Leaf Foods reports $17.7M third-quarter profit, sales up 1.8%

Maple Leaf Foods reported a third-quarter profit of $17.7 million, with earnings of 14 cents per share compared to a loss of four cents per share the previous year. Sales for the quarter were up 1.8% to $1.26 billion. The company is planning to spin off its pork business into a new company called Canada Packers Inc., with a tax-free “butterfly reorganization” in progress, though completion of the transaction is subject to an advanced tax ruling and may take longer than expected.

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