CANADA: Saputo reports Q3 net earnings up 37.1%
Canada's largest dairy processor Saputo has posted financial results for its Q3 of fiscal 2002, ended 31 December 2001, with net earnings up 37.1% year on year, to C$35.1m (US$22m)(C$0.34/share) from C$25.6m (C$0.25/share). Saputo explained that two important elements are reflected in these results. First, the performance of its latest acquisition, Dairyworld, whose integration process is still on course and whose performance is very encouraging. The contribution of Dairyworld activities to the overall earnings of the company grows steadily. Indeed, its EBITDA margin has risen by more than 50% since its acquisition in February 2001.
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