CANADA: Saputo posts rise in Q4 profit, on the lookout for acquisitions
North American cheesemaker Saputo has posted a rise in fourth-quarter profit and said it was on the lookout for possible acquisitions. Montreal-based Saputo posted earnings of C$47.8m (US$35.2m) for the quarter to 31 March, compared with $43.3m in the year-ago period. Sales were down to $807.1m from $833.6m because of a lower selling price per pound of cheese in the US and the appreciation of the Canadian dollar against the US dollar.
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