In marked contrast to previous quarters, Canada’s Tanbridge Corporation,(leatherbiz.com news search facility, ref: ‘Tanbridge’) was yesterday able to post a profit for the second quarter of 2002.

Income for the quarter was C$94,488 (3 cents per share) (US$59,000) compared with a loss of C$1,361,084 (52 per share) in 2001. Second quarter sales of C$21,070,846 were up from C$18,037,625 in 2001.

Sales of C$36,828,671 for the year-to-date were down from C$37,184,900 a year earlier. Loss for the year-to-date was C$926,231 (34 per share) compared to a loss of C$2,729,549 ($1.04 per share) in 2001.

The Tanbridge Corporation is Canada's largest leather producer, with plants located in Winnipeg and Pennsylvania, as well as a freeze-dry processor of food and other biological products, with plants located in Ontario and New York.