Pigs at the Meloporc farm in Saint-Thomas de Joliette, Que., in 2019.SEBASTIEN ST-JEAN/AFP/Getty Images
Canada Packers Inc. CPKR-T reported a fourth-quarter profit of $23.2-million as its sales edged higher compared with a year earlier.
The company says the profit amounted to 78 cents per diluted share for the quarter ended Dec. 27 compared with a profit of $50.6-million or $1.70 per diluted share in the fourth quarter of 2024.
Sales totalled $429.4-million, up from $424.0-million a year earlier.
The company says the increase was driven by increased volumes, higher average hog weights and favourable market pricing.
On an adjusted basis, Canada Packers says it earned 63 cents per share in its latest quarter, down from an adjusted profit of 79 cents per share a year earlier.
Canada Packers is the pork operations of Maple Leaf Foods Inc. MFI-T that were spun off into a new stand-alone company last year.