CANADA: Saputo Inc. - financial results for fiscal 2001 - net earnings up 10.1% - cash flow up 8.0%
Saputo Inc. revealed today its financial results for the fiscal year ending March 31, 2001. NET EARNINGS UP 10.1 % The Company's net earnings for fiscal 2001 stood at $110.2 million ($2.15 per share), up 10.1% over last year's earnings of $100.1 million ($2.00 per share). However, certain factors beyond the Company's control - such as the fact that the price per pound of cheese on the American market dropped to its lowest point of the last twenty years, the reality of rising energy costs and difficult conditions in the export market that have hampered the expansion of our international customer base - have had a negative impact and slowed the progress of net earnings for fiscal 2001.
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