Saputo Inc. (SAP.TO) said on Friday that its net earnings from continuing operations rose in the fourth quarter, helped by higher adjusted EBITDA and lower restructuring costs. Revenues, however, fell 5.5 percent from the prior year.
The Canadian dairy company reported fourth-quarter net earnings from continuing operations of C$157 million, or C$0.38 per share, higher than last year's C$87 million, or C$0.21 per share.
On an adjusted basis, net earnings from continuing operations were C$169 million or C$0.41 per share in the three months, compared to C$145 million or C$0.34 per share in the same period a year ago.
Quarterly revenues declined 5.5 percent to C$4.18 billion from C$4.41 billion a year ago, impacted by lower US dairy commodity market pricing. Adjusted EBITDA for the quarter rose to C$386 million from C$367 million in the previous year period.
On the Toronto Exchange, SAP.TO ended Thursday's trading at C$42.70, down 0.49 percent.
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