August 6, 2014

Canadian dairy Saputo sees increased quaterly profits with acquisitions
 

 

Montreal-based Saputo Inc, Canada's largest dairy producer, reported higher quarterly earnings, with net income rising to CAD145.3 million (US$133.3 million), helped by recent acquisitions.

Revenue during the first quarter through June 30 jumped nearly 21% to CAD2.6 billion, bolstered by Saputo's February acquisition of a majority control of Australia's Warrnambool Cheese and Butter Factory Company Holdings Ltd.

The company said its April purchase of the Atlantic Canada fluid-milk business of Scotsburn Cooperative Services Ltd also lifted revenues and earnings.