Saputo posts higher profit as North America dairy product sales rise

Reuters

Nov 7 (Reuters) - Canadian dairy products maker Saputo Inc, which is in a bidding war for Australia's WarrnamboolCheese and Butter Factory Co Holdings Ltd, reported a 3percent rise in quarterly profit as sales rose in North America.

Saputo's net income rose to C$133.3 million ($127.6million), or 67 Canadian cents per share, in the second quarterended Sept. 30, from C$129.7 million, or 65 Canadian cents pershare, a year earlier.

The company, which is competing with two of Warrnambool'slargest shareholders to take over the Australian dairy company,is currently the highest bidder with an offer of A$449 million($430 million).

Saputo, Canada's largest dairy products maker, raised itsbid by 14 percent on Oct. 24.

The company's revenue rose 28 percent to C$2.23 billion inthe second quarter.

Rates

View Comments (0)