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
The Criminal Investigations Department (CID) has been allowed to record statements from Perpetual Treasuries head Arjun Aloysius and Chief Executive Officer Kasun Palisena at the Welikada remand prison.The Colombo Fort Magistrate ordered the prison officials to allow the CID to record the statements on February 13, 14 and 15. Arjun Aloysius and Kasun Palisena are in remand prison after being arrested over the Central Band treasury bond scam. (Colombo Gazette)
Visitors to Joest’s stand at Electra Mining Africa 2014 will be able to watch a heavy media separation pilot plant in action, showcasing the performance of company’s vibrating screens and feeders. The plant will incorporate the recovery of sinks and floats on a Joest single deck screen. In addition, this exhibit will incorporate a new magnetic drive that is now available from Joest through an exclusive supply agreement with Avitech in Germany.Joest, a wholly owned South African OEM of vibrating equipment, is exhibiting this year under the tagline ‘Engineered for Tonnage’, which derives from its core competency – developing custom designed vibratory equipment solutions for the African mining industry..“’Engineered for Tonnage’ means we make a difference to our customers’ operations by producing screens and feeders which have been engineered for the lowest Total Cost of Ownership and which meet our customers’ individual application requirements,” Joest MD, Kim Schöpflin, says. “These products are supported by our regional support structures, in-house R&D and by metallurgical know-how that is based on engineering for very challenging conditions.”“To supplement our strategically located service centres in North West, Mpumalanga, KwaZulu-Natal and the Western Cape, we’ve initiated a branch strategy that has seen the first fully-fledged Joest branch recently open its doors in Kathu in the Northern Cape. Other branches will follow, based on demand.”The Joest brand includes vibrating screens, feeders, exciter gearboxes, unbalanced motors and the Sweco range of separators. At the show, the company will launch its new motor range, developed in collaboration with a leading European motor manufacturer. Models in the new range retain the Joest footprint, but incorporate several technical improvements. Also on display at the Joest stand will be a new, in-house developed and manufactured exciter gearbox boasting the lowest noise levels, below 85 dB, in the industry.