Canadian dairy group Saputo has said it will continue to pursue growth through acquisitions as it booked an increase in full-year profits.
Net profit for the year to the end of March increased 37.2% to C$382.7m (US$369m).
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Consolidated revenues edged up to C$5.81bn, an increase of 0.3% on fiscal 2009.
EBITDA amounted to C$692.1m, an increase of 26.3% from C$547.8m in the prior year.
“In fiscal 2011, the company intends on maintaining its sound approach and continue to maximizse efficiencies,” the company said. “Saputo’s goal remains to pursue growth internally and through acquisitions. The company’s flexible capital structure and low debt levels allows it to actively pursue and evaluate strategic investment opportunities, with the goal of expanding its presence in key markets.”
In the fourth quarter, the company earned C$99.1m compared to C$69.2m in the 2009 quarter, while sales dropped 5.2% to C$1.38bn.
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By GlobalDataClick here to view the full release and click here for more on why Saputo is targeting Australia.
