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Agriculture Report

Maple Leaf By the Numbers

Fadi

By Fadi Didi

Maple Leaf Foods reports a 22 percent drop in profit in the fourth quarter.


Length: 1:20

Maple Leaf Foods is reporting a 22 percent drop in profit in the fourth quarter compared to a year earlier.

That drop came, even though sales continued to increase.

With the decline the company is reporting an annual fall of 9.7 percent in profits, but sales were up by 5.7 per cent.

The fourth-quarter profit was $59 million on sales of $877 million and the annual profit was $164 million on sales of $3.5 billion.

Pork margins declined, but they were offset by gains in prepared meats.

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There are five inductees to the Ontario Agricultural Hall of Fame in 2018.

They include an early farm leader, growers and industry advocates.

Brant county farmer Barry Hill is recognized for his work within the First Nations Community.

The resident of the Six Nations Reserve, he helped form the First Nations Agri Group Co-op, which helps members receive rebates on input purchases.

Hill’s farm was producing Brant region’s first soybean crop back in 1979.

He grew it in hopes of meeting his community’s dietary needs.


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