Saputo Inc, one of Canada's largest dairy producers, reported lower quarterly earnings on Thursday, citing weaker pricing around the world for dairy ingredients.
In the fourth quarter ended on March 31, net income dropped to C$141.2 million, or 36 Canadian cents a share, from C$157.4 million, or 39 Canadian cents a share, a year earlier.
Excluding one-time items, earnings were 41 Canadian cents a share, just above the analysts' average estimate of 40 Canadian cents, according to Thomson Reuters I/B/E/S.
Revenue climbed 9 percent to C$2.7 billion, in line with expectations.
Saputo's shares were up 0.7 percent at C$39.43 around midday in Toronto.
