date:Nov 02, 2012
Canadian food firm Maple Leaf has reported a 24% dip in third-quarter profits after being forced to write-down some of its assets.
Toronto-based Maple Leaf, whose bakery brands include Dempsters and Tenderflake, reported earnings of C$32.6 million, down from C$43 million during the same period last year. Revenue reached just under $1.24 billion, down from $1.26 billion last year.
The firm said that the decline was largely attributable to a $13 million decrease in the fair value of its biologic