Saputo says earnings rose in fourth quarter, financial year

Saputo Inc. says its net earnings for the fourth quarter were $159 million, up from $37 million a year earlier.

The Montreal-based company says revenues for the quarter ended March 31 were $4.5 billion, up from $4.0 billion the same quarter last year.

Diluted earnings per share were 38 cents, up from nine cents a year earlier.

Net earnings for the full financial year were $755 million, up from $485 million, while revenues rose to $17.8 billion from $15.0 billion.

President and CEO Lino A. Saputo said in a press release that the company delivered a solid performance in its fourth quarter through pricing initiatives, strong international markets and favourable commodity prices.

Saputo said the company expects a year of organic growth ahead despite a challenging macro backdrop.

This report by The Canadian Press was first published June 8, 2023.

Companies in this story: (TSX:SAP)