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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By GlobalData