MONTREAL – Canadian cheese and dairy giant Saputo is beginning to see benefits from the U.S. economic recovery as sales of food services to restaurants south of the border are showing signs of life.
"There is more disposable income in the United States and it's reflecting in more consumption of our types of products within the U.S. quick service restaurant categories," CEO Lino Saputo Jr. said Tuesday during a conference call.
The Montreal-based company saw its revenues and profits grow in the third quarter of its fiscal year, in part due to increased activity south of the border.
Saputo's overall profits increased by nearly 16 per cent to $129.8 million, or 64 cents per share for the period ended Dec. 31.
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