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Saputo fiscal Q2 profit climbs 17.3% YOY

Saputo Inc. said its normalized net income for the fiscal second quarter ended Sept. 30 was 35 Canadian cents per share, compared with the S&P Capital IQ consensus estimate of 39 cents per share.

EPS rose 16.4% year over year from 30 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$137.9 million, an increase of 17.3% from C$117.6 million in the year-earlier period.

The normalized profit margin declined to 5.1% from 5.3% in the year-earlier period.

Total revenue increased 21.1% year over year to C$2.70 billion from C$2.23 billion, and total operating expenses climbed 21.5% on an annual basis to C$2.46 billion from C$2.03 billion.

Reported net income rose 15.5% year over year to C$155.2 million, or 39 cents per share, from C$134.3 million, or 34 cents per share.