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Maple Leaf Foods profit falls 24%

Food processor Maple Leaf Foods (MFI-T) reported a 24-percent fall in quarterly profit on Wednesday, under pressure from weak consumer bread demand and a slumping pork market.

Net earnings for the third quarter ended September 30 fell to $32.6 million, or 22 cents per share, from $43 million, or 29 cents, a year ago.

On an adjusted basis, earnings per share were 29 cents, compared to analyst expectations of 31 cents, according to Thomson Reuters I/B/E/S. CTV Two CTV News CTV News Channel BNN - Business News Network CP24