Saputo ekes out slightly higher revenue profit

MONTREAL — Saputo Inc. eked out a only slightly higher profit and revenue in its latest quarter, coming in slightly below analyst estimates.The Montreal-based cheese, dairy and bakery company had $130-million or 65 cents per share of net income, a penny short of analyst estimates.Its revenue was $1.8-billion, about $100-million less than the consensus estimate compiled by Thomson Reuters.The profit was up $200,000 or one cent per share from a year earlier while revenue was up by just $4.1-million from $1.796-billion.Saputo said it faces challenges in obtaining milk at competitive prices in several countries where it operates.The company is Canada’s largest dairy processor and the 12th-biggest in the world and producer of several brands of snack cakes.It also has a major presence in the United States and Argentina.The Canadian Press

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