Article Date 08/11/2019
Source Canadian Grocer
Saputo Inc.’s net profits beat expectations in its second quarter as it earned $174.9 million and revenue grew 7.2%.
The Montreal-based company says it earned 44 cents per share for the
quarter ended Sept. 30, up from 42 cents per share or $163.1 million a
Adjusted profits climbed 14% to $185.8 million or 47 cents per share,
compared with $163.1 million or 42 cents per share in the second
quarter of 2018.
Revenue rose to $3.67 billion from $3.42 billion.
Saputo was expected on average to earn 43 cents per share in adjusted
profits on $3.82 billion in revenues, according to financial markets
data firm Refinitiv.
On the Toronto Stock Exchange, Saputo’s shares gained 90 cents or 2.4% at $39.03 in early afternoon trading.