Skip to main content

Montreal dairy giant Saputo profit up nearly 30 per cent

Strength of U.S.

The Saputo cheese and dairy company says this year's first-quarter profit is up nearly 30 per cent from last year.

The Montreal-based company says overall revenue was also up due to strength in its U.S. and Canadian business operations.

Net income was $176.7 million or 44 cents per diluted share, up 29.5 per cent from $137.0 million or 34 cents per share in the first quarter of the previous financial year.

Revenue was $2.63 billion, up from $2.56 billion in last year's comparable quarter.

Saputo's quarterly dividend to shareholders will rise to 15 cents per share from 13.5 cents per share with the Sept. 16 payment.

This ad will auto-close in 10 seconds