Menu Foods Income Fund - Company Capsule by ICDResearch

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									Menu Foods Income Fund

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Menu Foods Income Fund - Company Capsule

Reference Code: CG0160CC
Published Date: April 2011




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Menu Foods Income Fund - Company Capsule                                            Page 1
Menu Foods Income Fund

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Menu Foods Income Fund - Company Overview

Menu Foods Income Fund (Fund) is a Canada based open-ended trust. The company holds interest in Menu Foods
Limited, which is engaged in the manufacture and sale of wet pet food products in Canada and the US. The various
products offered by the company include loaf, chunk and gravy products. It also provides contract manufacturing services
to pet food brand owners. It sells its products through supermarket retailers, mass merchandisers, pet specialty retailers
and other retail and wholesale outlets. The company offers its products in different sizes such as 85g, 100g, 150g, 156g,
170g, 374g, 396g and 624g and 652g. Its packaging includes high cone, 6-pack, 12-pack, mixed variety and 24 and 36-
pack formats. Menu Foods Income Fund is headquartered in Streetsville, Canada.


Financial Performance

The company reported revenues of (Canadian Dollars) CAD 290.63 million during the fiscal year ended December 2009,
an increase of 11.54% over 2008. The operating profit of the company was CAD 23.49 million during the fiscal year 2009,
an increase of 203.95% over 2008. The net profit of the company was CAD 13.72 million during the fiscal year 2009,
whereas the company reported a net loss of CAD 6.81 million during 2008.




Menu Foods Income Fund - Key Facts

Menu Foods Income Fund, Key Facts

                                  8 Falconer Drive, Mississauga,
                                                                    Ticker Symbol, Stock       MEW.UN (Toronto Stock
Corporate Address:                Ontario (ON), L5N 1B1, Canada Exchange                       Exchange)



Telephone                          + 1 905 8263870                  No. of Employees           N/A



Fax                                + 1 905 8264995                  Financial Year End         December



URL                               www.menufoods.com                 Revenue (in CAD Million)   290.63



Industry                          Consumer Packaged Goods           Revenue (in USD Million)   254.94



Locations                         Canada, United States

Source: Annual Report, Company Website, Primary and Secondary Research




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Menu Foods Income Fund - Company Capsule                                                                           Page 2
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Menu Foods Income Fund - Major Products and Services

Menu Foods Income Fund (the Fund) is an open-ended trust. The Key Products of the company include the following:

Menu Foods Income Fund, Major Products and Services
Products:

Loaf

Hunk

Gravy
Source: Annual Report, Company Website, Primary and Secondary Research




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Menu Foods Income Fund - Company Capsule                                                                    Page 3
Menu Foods Income Fund

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Menu Foods Income Fund - Key Competitors

The following companies are the major competitors of Menu Foods Income Fund:

Pet Valu Inc.

Doane Pet Care Company

Connors Bros. Income Fund

Ridley Inc.




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Menu Foods Income Fund - Company Capsule                                            Page 4
Menu Foods Income Fund

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Menu Foods Income Fund - Key Employees


Menu Foods Income Fund, Key Employees


          Name                             Job Title                      Board Level     Since   Age


C. Ian Ross                Chairman                                 Executive Board       2007


Alexander R. Aird          Trustee                                  Non Executive Board   2002


Eric A. Demirian           Trustee                                  Non Executive Board   2005


Gale Prince                Trustee                                  Non Executive Board   2007


James F. Billett           Trustee                                  Non Executive Board   2009

Source: Annual Report, Company Website, Primary and Secondary Research




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Menu Foods Income Fund - Company Capsule                                                            Page 5
Menu Foods Income Fund

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Menu Foods Income Fund - Locations and Subsidiaries

Head Office

Menu Foods Income Fund
8 Falconer Drive
Mississauga
Ontario (ON)
Zip: L5N 1B1
Canada
Tel: + 1 905 8263870
Fax: + 1 905 8264995




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Menu Foods Income Fund - Company Capsule                                            Page 6
Menu Foods Income Fund

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Menu Foods Income Fund - Financial Ratios

Financial Ratios - Capital Market Ratios
Menu Foods Income Fund, Ratios based on current share price

                                                Key Ratios                                                          30-Jun-2010
P/E (Price/Earnings) Ratio                                                                                             7.87
EV/EBITDA (Enterprise Value/Earnings Before Interest, Taxes, Depreciation and Amortization)                            14.55
Enterprise Value/Sales                                                                                                  0.7
Enterprise Value/Operating Profit                                                                                      8.61
Enterprise Value/Total Assets                                                                                          1.37
Note: Above ratios are based on share price as of 30-Jun-2010. The above ratios are absolute numbers.
Source: Annual Report, Company Website, Primary and Secondary Research




Financial Ratios - Annual Ratios
Menu Foods Income Fund, Annual Ratios

                Key Ratios                       Unit/Currency               2009           2008         2007       2006          2005
Equity Ratios
EPS (Earnings per Share)                                CAD                       0.47           -0.33      -3.24       0.22          -3.2
Dividend per Share                                      CAD                                                                          0.89
Dividend Cover                                        Absolute                                                                        -3.6
Book Value per Share      
								
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