The Saputo company says it earned $92 million in the fourth quarter, down from $159 million earned a year earlier.
The Montreal dairy processor says its revenues for the quarter ended March 31 were $4.55 billion, up slightly from $4.47 billion in the same quarter last year.
Diluted earnings per share were 22 cents, compared with 38 cents a year earlier.
President and CEO Lino Saputo says the company has stayed the course, despite “volatile commodity prices, constrained consumers and persistent inflationary pressures.”
He says Saputo is ramping up commercial production at several facilities after completing most of the major investment projects in the company’s strategic plan.
Earlier this year, the company announced that Saputo’s CEO would assume the role of CEO of the board of directors effective August 9.