Finances are improving at the Atlantic Beef Products plant in Albany, P.E.I., according to the company's president.

Though he wouldn't reveal the numbers, Mike Nabuurs says the financial picture at the plant has steadily improved over the last three months.

The plant had been losing about $3 million a year. The province capped its funding for the plant this year at $1.5 million.

Nabuurs says some new people with a lot of experience have come on board at the plant and are helping to improve the financial situation, improve operations, and develop new markets.

“Our margin over the last two or three months has improved and it continues to point in an upwards direction. They are not huge, it's not dramatic, but it is a trend that is promising,” Nabuurs said.

Last year the government paid for $3.2 million in losses at the plant, and has invested more than $40 million since the facility opened in 2005.

The beef plant is the only federally inspected beef processor in the Maritimes, and Nabuurs says he hopes the other Maritime provinces will provide some support.