CANADA: DCI deal, cheese prices boost Saputo in Q1

By Dean Best | 3 August 2011

The acquisition of US speciality cheese maker DCI Cheese Co. and higher cheese prices south of the border have boosted Canadian dairy giant Saputo's first-quarter results.

Saputo yesterday (2 August) reported a 13.3% increase in net earnings to C$126.6m (US$131.9m) for the three months to the end of June.

The company's EBITDA was up 9.6% at C$209.6m and its sales climbed 14.1% to C$1.64bn.

Saputo said an increase in the average block market price for cheese in the US and the purchase of DCI in February were factors in the increase in sales and EBITDA.

Earnings from Saputo's operations in Canada, Europe and Argentina also increased due to lower costs and "favourable dairy ingredient market conditions".

Click here for the full statement from Saputo.

Sectors: Dairy, Financials

Companies: Saputo

There are currently no comments on this article

Be the first to comment on this article

Related articles

CANADA: Saputo names Sbarba as COO

Canadian dairy company Saputo has appointed Dino Dello Sbarba to the position of COO, as part of a reshuffle of its management team.

CANADA: Saputo set to expand, Q2 profit

Canadian dairy company Saputo is set to pursue internal acquisitions and improve efficiencies, after booking an increase in second-quarter profits.

Welcome to the home of food information, insight & intelligence

Not a member? Join here

Decrease font sizeDecrease font sizeDecrease font size Increase font sizeIncrease font sizeIncrease font size Comment on this article Email this to a friend Print this page