The
That amounted to
The company attributed the decrease to ongoing shifts in consumer demand, inflation, dairy pricing volatility, heightened competition and supply chain obstacles.
On an adjusted basis excluding amortization of intangible assets related to acquisitions, Saputo earned
Revenues for the three months ended
Analysts on average expected that Saputo would report
“Despite these challenges, we remain optimistic that the mitigating measures we’re putting in place and the first wave of initiatives we’re deploying under our global strategic plan will enable us to deliver organic adjusted EBITDA growth this fiscal year," stated CEO
"We’re moving forward with responsible pricing initiatives, and we’re keenly focused on diversifying our business and increasing the profitability of our product offering, supported by our three recent acquisitions in dairy alternative cheese, value-added ingredients, and specialty cheese.”
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Companies in this story: (TSX:SAP)
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