TSXV Symbol: CYF
CALGARY, Jan. 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 its second quarter results. Listed below are some of the
highlights of the second quarter:
- The NET PROFIT for Q2 of $23,758 is a significant turnaround for the
company when compared to a net loss of $217,105 in Q2 of the previous
year.
- Sales increased by 44% in Q2 vs Q2 in previous year.
- The gross margin comparisons when only direct costs are factored into
the cost of goods is 32% for Q2 vs 15% in previous year and 21% in
fiscal 2005
- The company's YTD loss is $26,095 vs $590,077 for the same period
last year.
- EBITDA is a positive $133,292 YTD vs a negative $254,994 for the same
period last year.
Terence Alty, President of Canyon Creek Soup Company states "This is
certainly a monumental achievement for the company. We are very pleased with
the results as we have just begun fulfilling our contractual sales obligations
and therefore are looking forward to a very profitable future."
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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