LUNENBURG, N.S. – The stronger Canadian dollar was cited by High Liner Foods Inc. (TSX:HLF) on Tuesday in reporting lower fourth-quarter profits.
The Nova Scotia-based frozen seafood company said quarterly earnings were $2 million or 13 cents per share, a decline from $3.8 million or 21 cents in the same period last year.
Sales fell to $140.7 million from $148.8 million.
"We benefited from the growth in sales volumes in the U.S. in both our food service and retail businesses, as well as from our cost-reduction initiatives to expand our margins," president and CEO Henry Demone said in a release.
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