Saputo Swings To Q3 Profit

(RTTNews) - Saputo Inc. (SAPIF, SAP.TO), a Canadian-based dairy processor, on Friday reported profit in the third quarter compared with loss in the previous year.

For the third quarter, net earnings came in at $220 compared with the loss of $518 million in the previous year.

Earnings per share were $0.53, versus loss per share of $1.22 last year.

Adjusted net earnings increased to $235 million from $167 million in the prior year.

Adjusted earnings per share were $0.57 versus $0.39 last year.

Adjusted EBITDA increased to $492 million from $417 million in the previous year.

Revenue decreased to $4.89 billion from $4.99 billion in the prior year.

On Thursday, Saputo closed trading 0.21% higher at CAD 42.52 on the Toronto Stock Exchange.