Agriculture Roundup for Friday November 6, 2020
MELFORT, Sask. – Saputo Inc. says its net profit slipped 2.3 per cent despite a small increase in revenue in the second quarter of its fiscal year.
The Montreal-based dairy processor says it earned $170.8 million or 42 cents per diluted share for the three months ending Sept. 30, compared with $174.9 million or 44 cents per share a year earlier.
Adjusted profits dropped 7.2 per cent to $184.1 million, from $198.3 million in the second quarter of 2019.
That equalled to 45 cents per share, five cents below last year’s second quarter.