Market News
15Nov2006 |
Earnings Up at SaputoStrong sales in Canada helped dairy giant Saputo's profit increase 5.6% to $58.3 million, despite a weaker performance in the United States in its second quarter. The Montreal-based company also reported that revenues had slipped to $994 million, from $1.03 billion. The revenue drop was attributed to a decline in U.S. sales volumes, a stronger Canadian dollar and lower cheese prices. Saputo said that while its Canadian and other revenues increased by $23.9 million, its U.S. dairy products unit saw revenues drop by $66.5 million, compared to last year. Source: Canadian Grocer E-Newsletter, November 15, 2006. 
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