CANADA: US cheese price hike boosts Saputo profits

By just-food.com | 3 August 2010

Higher cheese prices in the US have helped push up Sauputos quarterly profits

Higher cheese prices in the US have helped push up Sauputo's quarterly profits

Higher cheese prices in the US have helped push up quarterly profits at Saputo, the Canadian dairy group said today (3 August).

Saputo's net earnings climbed 31.4% to C$111.4m during the first quarter of the company's fiscal year, a quarter that ended on 30 June.

The improved bottom line came as Saputo's EBIDTA increased 20.4% to C$190.8m thanks to "operational efficiencies" and "more favourable market conditions" in the US, the company said.

The EBITDA from Saputo's US dairy products business jumped by more than 57% to C$65m as cheese prices rose.

The inclusion of last June's acquisition of F&A Dairy into the numbers also helped Saputo's EBITDA in the US.

EBITDA from Saputo's Canadian, European and Argentinean businesses was up 8.1% at C$121.7m.

Lower volumes from those regions weighed on Saputo's turnover, which dipped 0.7% to C$1.44bn. 

 

Sectors: Commodities & ingredients, Dairy, Financials

Companies: Saputo

View next/previous articles

Currently reading -

CANADA: US cheese price hike boosts Saputo profits

There are currently no comments on this article

Be the first to comment on this article

Related articles

CANADA: George Weston announces C$1bn share dividend

George Weston Ltd, Canada's largest food processor, has announced it will pay a one-time common share dividend of C$1bn (US$993.4m).

CANADA: Saputo extends cheese slice recall

Canadian dairy giant Saputo is expanding a cheese recall over fears more products may be contaminated with listeria bacteria.

CANADA: Saputo cheese in Listeria scare

Canadian dairy processor Saputo is investigating the cause of a listeria contamination that led to it recalling several lots of cheese from a Quebec plant.

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