Business
Canyon Creek Food Company annouces 2009 Q1 results
TSXV Symbol: CYF CALGARY, Oct. 30 /CNW/ - Canyon Creek Food Company Ltd., ("Canyon Creek") listed...
About this update from Canyon Creek Food Company Ltd.
[{"type":"text","content":"\n\n\n\nTSXV Symbol: CYF\n\n\nCALGARY, Oct. 30 /CNW/ - Canyon Creek Food Company Ltd., ("Canyon Creek")\nlisted on the TSX Venture Exchange Inc. under the trading symbol "CYF" is\npleased to announce its first quarter results. Listed below are some of the\nhighlights.\n\n\nSALES\n-----\n\n\nCanyon Creek sales increased 11.2% in Q1 or $117,999 compared to Q1 2008\n($1,71,333 Q1, 2009 vs. $1,053,334 Q1 2008). This increase in sales primarily\nrelates to further development with our retail business\n\n\nGROSS PROFIT\n------------\n\n\nThe gross profits increased from 10% to 15% during the first quarter,\ncompared to Q1 2008. This increase is attributed to lower cost of ingredients,\nefficiencies at plant level and the continued addition of higher margin\nproducts.\n\n\nNET LOSS\n--------\n\n\nThe net loss for the Q1, 2009 is $196,288 compared to the Q1, 2008 loss\nof $322,100. This improvement of $125,812 is the result of increase in sales\nand higher margin products.\n\n\nTerence Alty, President, states "We are pleased with the improvement of\nboth sales and gross profit in Q1. We believe that we will continue to make\nprogress in the upcoming quarters as we focus on further development in the\nretail sector.\n\n\nAbout Canyon Creek\n------------------\n\n\nCanyon Creek is a food processing company based in Calgary and Edmonton,\nAlberta providing fresh soups and other prepared food products for today's\nhealth conscious consumer. The company provides its fresh food product line to\nboth grocery retailers and a broad range of food service establishments such\nas restaurants and institutions throughout Canada.\n\n\nThis news release contains forward-looking statements which involve known\nand unknown risks, delays, and uncertainties not under the Company's control\nwhich may cause actual results, performance or achievements of the Company to\nbe materially different from the results, performance or expectations implied\nby these forward-looking statements.\n\n\nThe TSX Venture Exchange has neither approved or disapproved of the\ncontents of this press release.\n\n\n%SEDAR: 00004242E\n\n\n","length":2376,"tagName":"div"}]