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Saputo fiscal Q1 profit climbs 14.0% YOY

Saputo Inc. said its normalized net income for the fiscal first quarter ended June 30 came to 47 Canadian cents per share, compared with the S&P Capital IQ consensus estimate of 48 cents per share.

EPS increased 16.1% year over year from 40 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$182.3 million, an increase of 14.0% from C$159.9 million in the prior-year period.

The normalized profit margin increased to 6.3% from 6.1% in the year-earlier period.

Total revenue grew 9.9% on an annual basis to C$2.89 billion from C$2.63 billion, and total operating expenses grew 9.7% year over year to C$2.59 billion from C$2.36 billion.

Reported net income rose 13.8% from the prior-year period to C$199.6 million, or 51 cents per share, from C$175.3 million, or 44 cents per share.