BOYD GROUP SERVICES

BYD
Delayed Toronto Stock Exchange - 11:57 2022-12-05 am EST
217.99 CAD -0.00%

Profitability of Canadian Consumer Products Firms Hit by 'Unrelenting' Rise in Input, Labor Costs, S&P Report Finds

08/17/2022 | 11:03am
(MT Newswires) -- S&P Global Ratings said in a report Tuesday that the profitability of Canadian consumer products companies has been affected by an "unrelenting" rise in input and labor costs.

Among the factors resulting in price increases through the second quarter, S&P highlighted raw material inflation and higher freight costs ars common threads for this sector.

Weakening consumer confidence and waning affordability provide less room for discretionary spending, S&P noted.

"Up to now these companies were able to pass on price increases to customers, but inflation and volume pressure will make it harder for them to do so the next few quarters," S&P Global Ratings credit analyst Archana Rao said.

Price: 188.48, Change: -1.05, Percent Change: -0.55

MT Newswires 2022
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