Article Date 07/06/2019

Image from : Canadian Grocer

Saputo reports lower Q4 profits, misses expectations

Source Canadian Grocer

Dairy processor Saputo Inc. missed expectations as it capped its financial year by reporting lower profits in the fourth quarter even though acquisitions boosted revenue by 18%.

The Montreal-based company earned $124.2 million or 32 cents per diluted share for the quarter ended March 31, compared with $130 million or 33 cents per share in the prior year.

Excluding one-time items, adjusted earnings fell 7% to $125.8 million or 32 cents per diluted share. That was down from $135.3 million or 35 cents per share in the fourth quarter of 2018.

Revenue increased to $3.2 billion, from $2.7 billion.

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