NSLC Announces Second Quarter Results

first_imgThe Nova Scotia Liquor Corporation (NSLC) released its second quarter results today, Oct. 22, for June 30 to Sept. 28. Compared to the same quarter last year, net income was $69 million, an increase of $2.1 million or 3.2 per cent. Total sales were $169 million, an increase of $0.1 million. Sales highlights for locally produced products include wine up 9.4 per cent to $3.5 million, ciders up 62.8 per cent to $400,000, craft beers up 28.9 per cent to $1.5 million and spirits up 0.9 per cent to $300,000. A detailed news release can be found by following the News Releases link on the NSLC website at www.myNSLC.com . -30-last_img

11 fallen trees bring traffic to a halt

first_imgNew Delhi: Delhi’s first Monsoon showers were a relief for some staying back home or in offices but also threw Delhi Traffic to jitters after several trees fell on the roads and obstructed the traffic, leaving the motorists stuck at several points in Delhi. The Public Works Department (PWD) received at least 11 calls of ‘fallen tress’ from across the city.Motorists were stuck at Adhchini Red light in South Delhi after a huge tree fell on the road forcing the commuters to make frantic calls to the Delhi Traffic Police and PWD. The call was received at 3:55 pm by the PWD and at 4:05 pm by Traffic police. “Area traffic and concerned civic agency has been informed,” the Delhi Traffic Police Twitter handle tweeted. Also Read – Bangla Sahib Gurudwara bans use of all types of plastic items”We have been struck in the jam from quite sometime and have made several calls to the concerned authorities but there has to be a mechanism for actively responding to calls like these,” said a commuter struck in the jam. “This should be taken on priority as the begining of the monsoon season tests the preparedness of the civic agencies. If a tree has fallen, how quick the agencies respond tells their state of activeness,” said another commuter. Also Read – After eight years, businessman arrested for kidnap & murderThe PWD also roped in members of civil division and road maintainence department and also Horticulture department to remove the heavy trunk of the fallen tree which resulted in huge traffic jam on the road. At around 4 pm a large neem tree uprooted during rain on Aurobindo Marg between PTS Malviya Nagar (from Mehrauli to AIIMS). The tree blocked the complete carriage way. Three cars were also trapped under the tree without any injury to the occupants. Disaster van of Traffic Unit also reached the spot. SDMC and PWD Horticulture were also informed and their teams also reached the spot. “The work of cutting as well as removing the tree was taken up, the trapped cars were removed and one lane was restored for traffic at about 5:30pm. The second lane was also restored at about 5:45pm and the complete carriage way was cleared and restored by 6:45pm,” said a senior Traffic official. Apart from Adchini, calls of ‘fallen trees’ were also received from Aurobindo Marg, Mukherjee Nagar, Saket, Mayur Vihar Phase 3 Manas Apartment. Also the calls of traffic choas due to ‘fallen trees’ were received from Punjabi Bagh, MB Road, Kaya Maya Mandir, Auchandi Marg, road from IIT Flyover to Munirka and from Jungpura in South east Delhi just at the begining of the flyover.last_img read more

Maple Leaf Foods posts lower thirdquarter profit as it plans price increases

TORONTO – Maple Leaf Foods Inc. said Wednesday that consumers should expect to see higher prices for their meat and bread products starting next year, due to the rising costs of getting those items onto shelves.The Toronto-based meat and bakery company, which also reported weaker third quarter earnings, outlined plans to raise its prices in the first quarter of 2013 due to higher raw materials costs.In the bakery division, “we continue to face higher inflationary costs, as well as projected increases in flour and dairy raw material costs,” said president and CEO Michael McCain.“We expect to pass on (higher) pricing in the first quarter of next year.”McCain said prices will rise seven cents per item on the wholesale market, which would boost prices by about 10 cents on store shelves, starting at the end of January.“That will largely cover the cost of our commodity increases, although probably not the whole value of all of our inflation,” he said.“We still have some work to do to offset that.”Meanwhile, prices will also go up for its meat products sometime in the first quarter, though the magnitude and exact timing of the increase hasn’t been decided.“It will be significant, but we just don’t know exactly how significant or exactly when yet in the protein business in 2013,” he said.Maple Leaf Foods (TSX:MFI) has faced a double whammy of higher prices for raw materials and other inflationary costs, while also booking a lower value for the live animals that eventually become its meat products.On Wednesday, the company reported a drop in net earnings during the third quarter, due to lower revenues and a write down on the value of some assets.Maple Leaf Food’s net earnings fell to $32.6 million, or 22 cents per share. That missed expectations of 28 cents per share, according to a poll by Thomson Reuters, and were below the reported $43 million in the third quarter of 2011.The weaker results were mostly from a $13-million decrease in the fair value of the company’s biological assets.McCain said the adjustment came from new international reporting standards that require the company to recognize the value of its live assets — live pigs, eggs and live chickens — as if they were all going to be sold at a current market value.“We’ve excluded these amounts from our adjusted operating earnings because we don’t consider those effects to be representative of operational results during the period,” he told analysts on the conference call.On an adjusted basis, operating earnings improved to $76.3 million from $73.3 million.Revenue slipped to just under $1.24 billion from just over $1.26 billion.Maple Leaf is Canada’s biggest food processor, making and selling such well-known store brands as Maple Leaf, Burns and Schneiders hot dogs, Dempster’s bread, Olivieri pasta, as well as Shopsy’s deli meats and Mitchell’s Gourmet foods.Last year, Maple Leaf announced a plan to cut 1,550 jobs by closing plants in four provinces and streamlining distribution, part of a three-year, $560-million restructuring plan expected to boost competitiveness and profitability.Maple Leaf has 21,000 employees at its operations across Canada and in the United States, Europe and Asia. Maple Leaf Foods posts lower third-quarter profit as it plans price increases by The Canadian Press Posted Oct 31, 2012 5:41 pm MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email read more