Nov 3 (Reuters) – Saputo Inc, one of Canada’s largest dairy producers, reported a 29 percent jump in quarterly earnings on Thursday, more than expected.
For its fiscal second quarter, net income rose to C$191.8 million, or 48 cents a share, from $148.6 million, or 37 cents, a year earlier.
Revenue during the quarter, which ended Sept. 30, rose 1.9 percent to $2.8 billion, in line with expectations.
Analysts were expecting Saputo to earn 45 cents per share, according to Thomson Reuters I/B/E/S.
Saputo’s shares eased 0.2 percent to $47.65 in Toronto.
The Montreal-based company, whose brands include Dairyland milk and Armstrong cheese, is among the top cheese producers in the United States and also has significant operations in Argentina and Australia.