Maple Leaf Foods Inc. reported its financial results for the fourth quarter and full year ended December 31, 2015. It reported net earnings from continuing operations in the quarter of $33.3 million and $41.6 million for the year, compared to net losses of $23.0 million and $213.8 million, respectively in the same periods last year. Sales from continuing operations increased 10.0% from last year, or 7.0% after adjusting for the impact of foreign exchange, to $873.1 million, due to higher sales in the Meat Products Group and an additional week in 2015.
"We are very pleased with our consistent earnings growth in the year and fourth quarter, driven by our commercial performance and continued progress lowering operating costs in our new plant network," said Michael H. McCain, President and CEO. "We are entering 2016 with momentum, confident that the strategic goals of our transformational investments have been met, with only normal ramp-up inefficiencies in a single facility remaining. Additionally, Maple Leaf is now a North American leader in the evolution of sustainability in our industry and sustainable protein production, which will underpin our growth well into the future. This, combined with a strong balance sheet, exciting innovation and brand leadership, gives us great cause for optimism in the years ahead."