TSXV Symbol: CYF
CALGARY, Oct. 30 /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 first quarter results. Listed below are some of the
Canyon Creek sales increased 11.2% in Q1 or $117,999 compared to Q1 2008
($1,71,333 Q1, 2009 vs. $1,053,334 Q1 2008). This increase in sales primarily
relates to further development with our retail business
The gross profits increased from 10% to 15% during the first quarter,
compared to Q1 2008. This increase is attributed to lower cost of ingredients,
efficiencies at plant level and the continued addition of higher margin
The net loss for the Q1, 2009 is $196,288 compared to the Q1, 2008 loss
of $322,100. This improvement of $125,812 is the result of increase in sales
and higher margin products.
Terence Alty, President, states "We are pleased with the improvement of
both sales and gross profit in Q1. We believe that we will continue to make
progress in the upcoming quarters as we focus on further development in the
About Canyon Creek
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.
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 statements.
The TSX Venture Exchange has neither approved or disapproved of the
contents of this press release.
For further information:
For further information: Mr. Terry Alty, President and Director,
Telephone: 1-888-217-1246. ext. 222