• Third quarter profit and cash flow up at Saputo

    Tags: Cheese

MONTREAL -- Saputo Inc., Canada's largest dairy producer, revealed strong financial results for the third quarter of fiscal 2002, ended December 31, 2001. The company posted a 37 percent jump in net profit of $35.1 million (CAN), compared to $25.6 million in the same period last year.

Earnings before interest, income taxes, depreciation and amortization (EBITDA) reached $77.8 million in the course of the third quarter of fiscal 2002, an increase of 35 percent over the $57.6 million of last year's third quarter. This growth of $20.2 million is attributable to the activities of the company's acquisition of Dairyworld last February, which generated $24.1 million in EBITDA for the quarter.

Saputo's revenues totaled $863.7 million for the quarter, a climb of 76 percent from the $490 million for the corresponding period in the previous fiscal year. According to a company release, Dairyworld's contribution to the company's revenues accounts for the bulk of that increase.

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