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Saputo fiscal Q2 profit falls YOY

Saputo Inc. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to 34 Canadian cents per share, compared with the S&P Capital IQ consensus estimate of 37 cents per share.

EPS fell year over year from 35 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$133.3 million, a decrease from C$137.9 million in the prior-year period.

The normalized profit margin fell to 4.8% from 5.1% in the year-earlier period.

Total revenue increased year over year to C$2.79 billion from C$2.70 billion, and total operating expenses rose from the prior-year period to C$2.56 billion from C$2.46 billion.

Reported net income fell 5.3% year over year to C$147.0 million, or 37 cents per share, from C$155.2 million, or 39 cents per share.