Article Date 07/06/2019
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.