TSXV Symbol: CYF
EDMONTON, Feb. 3 /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.
Canyon Creek sales declined 14.6% in Q2, 2011 or $188,803 compared to
Q2, 2010 ($1,105,022 Q2, 2011 vs. $1,293,805 Q2, 2010). This decrease
in sales primarily relates to a softer consumer off take on the retail
The gross profit margin for the quarter ending November 30, 2011
remained steady at 33%. This is the result of continued focus on
reducing the ingredient costs and labor reductions, while looking at
ways to increase product yields.
The net loss for Q2, 2011 is $43,304 compared to the profit of $6,463 in
Q2, 2010. This loss is attributable to higher repair and maintenance
cost along with an increase in Quality assurance. Terence Alty,
President, states, "Though we were pleased about our improvements on an
operational basis, we are disappointed with the performance on the
revenue side of the equation. Our focus now is increasing our top line
through innovative product offerings that we believe have wide consumer
appeal and will attract both retailers and food service operators."
ABOUT CANYON CREEK
Canyon Creek is a food processing company based in 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.
This news release contains forward-looking statements which involve
known and unknown risks, delays, and uncertainties not under the
Company's control which may cause actual results, performance or
achievements of the Company to be materially different from the
results, performance or expectations implied by these forward-looking
The TSX Venture Exchange has neither approved nor disapproved of the
contents of this press release.
SOURCE Canyon Creek Food Company Ltd.
For further information:
Mr. Terry Alty, President and Director
Telephone: 1-888-217-1246. Ext. 226