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Saputo’s quarterly profits down 3.4% on lower volumes, fluctuating loonie
MONTREAL – Cheese and dairy processor Saputo Inc.’s profits for its latest quarter swung to a $6.6 million loss.
The Montreal-based company (TSX:SAP) says its earnings were $185.2 million or 48 cents per share for the quarter ended Sept. 30 compared to 191.8 million or 49 cents per share a year ago.
The dairy processor says its diluted earnings per share were 47 cents in the quarter compared to 48 cents per share a year ago.
Revenues in the quarter amounted to $2.88 billion, up 1.4 per cent from $2.84 billion.
Saputo says its revenues were negatively impacted by lower sales volumes and an unfavourable product mix.
The company says fluctuation of the Canadian dollar in the quarter also played a role.
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