TSXV Symbol: CYF
TORONTO, Oct. 31 /CNW/ - Canyon Creek Food Company Ltd. ("Canyon Creek"),
listed on the TSX Venture Exchange Inc. under the trading symbol "CYF", is
pleased to announce it's first quarter results. Listed below are some of the
highlights of the first quarter:
- Sales increased by 23% in Q1 vs Q1 last year.
- Gross Margin comparison when only direct costs are factored into the
cost of goods is 30% for Q1 this year vs 15% in Q1 last year.
- Selling expenses were reduced by $7m in Q1 vs Q1 last year.
- General & Administrative expenses were reduced by $73,400 in Q1 vs Q1
last year.
- EBITDA was a positive $21,127 in Q1 vs a negative $199,136 in Q1 last
year.
Terence Alty, President of Canyon Creek Soup Company states "These
results give a clear indication that Canyon Creek is certainly making positive
strides in achieving the goal of profitability".
About Canyon Creek
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Canyon Creek is a food processing company based in Calgary and Edmonton,
Alberta providing fresh soups and other prepared food products for today's
health conscious consumer. The company provides its fresh food product line to
both grocery retailers and a broad range of food service establishments such
as restaurants and institutions throughout Canada.
The TSX Venture Exchange has neither approved or disapproved of the
contents of this press release.
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