CANADA: Saputo reports slight rise in Q2 profits
Canada’s largest cheese processor Saputo has reported second-quarter profit of C$42.1m (US$26.7m), compared with C$41.5m in the second quarter of last year.
The reported earnings were in line with analysts’ expectations.
Sales were down 3.5% at $861.8m, compared to $897.7m in the year-earlier period.
Saputo also said it plans to close three of its 20 Canadian cheese plants as part of restructuring following the acquisition of Dairyworld, reported Reuters.
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