The Menu Foods Income Fund reported net income for its fiscal year 2009 as US$13.7 million, a substantial improvement compared to a loss of US$6.8 million in 2008. In addition, the fund reported EBITDA of US$33.3 million for 2009, which is an increase of 46% from 2008.
"Our strong performance in 2009 marks the first time since 2006 that the fund has been profitable in each quarter of the year and results in 2009 being the third most profitable year since the fund went public in 2002," stated Paul Henderson, president and chief executive officer, Menu Foods GenPar Limited.
Still in its infancy, cell-cultured meat is being looked at for its possibilities, but environmental challenges exist, as well.
By David Sprinkle
While forecasts can have short shelf lives, being overtaken by unforeseen events, there’s no question that the U.S. economy and American houseeholds have been buffeted by COVID-19 shutdowns and illnesses, patches of job insecurity despite low unemployment rates and record price inflation only partially offset by wage increases.