Saputo food company ekes out slightly higher revenue, profit in latest quarter

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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.

Organizations: Saputo Inc., TSX

Geographic location: MONTREAL, Canada, United States Argentina

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