MONTREAL - Saputo Inc. (TSX:SAP) 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.