GUELPH, Ont. – Hammond Manufacturing Co. Ltd. (TSX:HMM.A) revenue increases slightly to $20.7 million in its second quarter ended July 1, but profit drops 80 per cent from year-earlier period.
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The profit was less than one cent per share, compared with four cents per share.
The company said its bottom line was affected by lower levels of production, a high Canadian dollar and higher spending “on everything from sales, new machinery and parking lot repairs.”
Hammond said it expects the challenges will continue going forward.
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