Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Saputo profit climbs, helped by higher dairy prices

Published 03/02/2017, 05:08 am
Updated 03/02/2017, 05:10 am
© Reuters. Saputo profit climbs, helped by higher dairy prices

Feb 2 (Reuters) - Saputo Inc SAP.TO , one of Canada's largest dairy producers, reported larger quarterly profit on Thursday, boosted by increased international prices.

For its fiscal third quarter, net income rose to C$197.4 million, or 49 Canadian cents a share, from C$175.2 million, or 44 Canadian cents, a year earlier.

Revenue during the quarter, which ended Dec. 31, rose 2 percent to C$3 billion.

Analysts were expecting Saputo to earn 51 Canadian cents per share on revenue of C$3 billion, according to Thomson Reuters I/B/E/S.

Montreal-based Saputo's shares eased 0.4 percent to C$47.14 in Toronto.

Saputo, whose brands include Dairyland milk and Armstrong cheese, won majority control in 2014 of Australia's Warrnambool Cheese and Butter Factory Company Holdings Ltd WCB.AX , and this week offered to buy the remaining shares. (By Rod Nickel in Winnipeg, Manitoba; Editing by Chris Reese)

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.