Canadian dairy giant Saputo has recorded an increase in full-year profits, on the back of revenue boosted by its acquisition of Morningstar Foods.

Earnings in the 12 months to the end of March amounted to C$481.9m (US$466.8m), up 26.5% on last year. EBITDA reached C$860.8m, a 3.6% improvement on the prior year period.

Sales in the fiscal year grew 5.3% to reach C$7.30bn, boosted by the Morningstar acquisition in January. This offset a less favourable dairy ingredients product mix and lower sales volumes, increasing sales by around C$338m.

The fluctuation of the Canadian dollar also added around $4m in revenues.

Looking to the new fiscal year, Saputo said: “The company anticipates that the dairy market in fiscal 2014 will continue to be challenging. The Dairy Products Division (Canada) will target volume growth in the cheese and dairy ingredients categories, as well as seek volume increases despite declining market trends in the fluid milk category.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.