Canadian natural and organic food manufacturer SunOpta posted a profit in the third quarter largely due to gains from the sale of its SunOpta Bioprocess unit.

The company yesterday (10 November) reported a US$34.1m net profit for the third quarter, ended 2 October, against a $4.7m net loss in the same period last year.

SunOpta enjoyed a $34.6m net gain from the sale of the SunOpta Bioprocess unit, although that was partially offset by non-cash goodwill and impairment charges of $6.4m after tax.

Steve Bromley, president and CEO of SunOpta, said: “We are very pleased with our third quarter and year to date results which are the result of numerous operational improvement initiatives which have been implemented, combined with the benefit of the disposition of certain of our non-core assets.”

For the quarter, sales were up 2.5% to $217.9m. Operating income increased 96.2% to $10m.

Revenue in its SunOpta Foods division grew 0.9% to $197.5m.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

For the company’s full earnings statement click here.