Business
Canyon Creek Food Company Ltd. Announces Fiscal 2006 Results
Canyon Creek Food Company Ltd. Announces Fiscal 2006 Results.
About this update from Canyon Creek Food Company Ltd.
[{"type":"text","content":"\n\n\n\n\nTSXV Symbol: CYF\n\nCALGARY, Oct. 12 /CNW/ - Canyon Creek Food Company Ltd. (\"Canyon Creek\"),\na food processing company listed on the TSX Venture Exchange under the trading\nsymbol \"CYF\", is pleased to announce its fiscal 2006 results. Listed below are\nsome of the highlights of the year:\n\n>\n\nThe company continues to focus on developing sales with its major retail\ncustomer. The execution of the retail contract has been slower than expected\nas only 30% of the anticipated contracted volume was achieved in fiscal 2006.\nThe company anticipates that the full contracted retail volumes will\nmaterialize in fiscal 2007.\nTerence Alty, President, states \"Though sales fell short of what we had\nexpected, the fact is that sales grew by 35% and gross profit margins doubled\n- most companies grow their top line at the expense of margins. We\naccomplished both top and bottom growth and for that we are very proud.\"\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 through out Canada.\n\nThis news release contains forward-looking statements which involve known\nand unknown risks, delays and uncertainties not under Canyon Creek's control\nwhich may cause actual results, performance or achievements of Canyon Creek to\nbe materially different from the results, performance or expectations implied\nby these forward-looking statements.\nThis press release shall not constitute an offer to sell or the\nsolicitation of an offer to buy the securities in any jurisdiction. The\nsecurities offered have not and will not be registered under the United States\nSecurities Act of 1933, as amended, or any state securities laws and may not\nbe offered or sold in the United States absent registration or an applicable\nexemption from the registration requirement.\n\nThe TSX Venture Exchange has neither approved nor disapproved of the\ncontents of this press release.\n%SEDAR: 00004242E\n\n\n","length":2491,"tagName":"div"}]