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Maple Leaf Foods reports 13% growth in Q3

Reassessing plant protein investment

8 November 2021, at 2:32pm

Maple Leaf Foods Inc. reported its financial results for the third quarter, which ended 30 September 2021. Total company sales grew 12.4% to $1,188.6 million, up from 7.8% last year.

President and CEO of Maple Leaf Foods Michael H. McCain
Michael H. McCain, President and CEO of Maple Leaf Foods

"While our overall focus to create long-term value for all stakeholders remains unchanged, and investments to date have been well calculated, well executed and have delivered underlying value, we have always been prepared to re-examine that investment thesis if circumstances change," McCain added. "Given current category performance, such a review is underway which will either affirm or adjust our strategies and investment thesis going forward."

Factors that could have an impact on the business, which cannot be estimated or controlled due to the COVID-19 pandemic, include:

  • Volatility in the pork and poultry commodity and foreign exchange markets

  • Inflationary cost pressures

  • Disruptions in the global supply chain

  • Availability of labour

  • The balance between retail and foodservice demand

  • Potential future production disruptions or shutdowns

  • The duration of government measures, including social distancing