High Liner Foods Acquisition and Financial History
2023 Outlook
We remain confident in the long-term outlook for the business and its ability to navigate current macro-economic
challenges. However, we anticipate that economic conditions impacting consumer spending patterns with respect to frozen
seafood will continue to impact results in the short-term.
We believe in the growth potential of our business and the category. As a market leader, we are continuing to invest and
innovate despite market headwinds, and we are coupling these efforts with targeted and strategic promotions to support
our customers and help us return to normalized inventory levels by the end of the year.
The Company will continue to focus on improving working capital and generating cash flow from operations. The Company
maintains its confidence in achieving the long-term leverage ratio of 3.0x.
The Company has a strong balance sheet and is well equipped to invest in organic growth, explore opportunities for
transformative growth through potential M&A activities to build shareholder value and continue to grow the dividend over
time.
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