Release Date:
Menu Foods Income Fund announced results for the third quarter that ended September 30, including EBITDA (earnings before interest, taxes, depreciation and amortization) of CA$7.4 million (US$7.07 million), a 93% increase over the same quarter last year.
"Our strong third quarter performance continues the trend begun in the first quarter of 2009 and marks the first time since 2006 that Menu has had three consecutive profitable quarters," stated Paul Henderson, president and CEO of Menu Foods GenPar Ltd.
Menu Foods also generated almost CA$10 million (US$9.55 million) in cash from operations and was able to reduce its bank indebtedness by CA$8.5 million (US$8.12 million) and finance CA$1.5 million (US$1.43 million) of capital expenditures undertaken during the third quarter.