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Saputo reports $142M Q1 profit, revenue up nearly 10% from year ago

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MONTREAL – Saputo Inc. reported a profit of $142 million in its latest quarter as its revenue rose nearly 10 per cent compared with a year ago.

The cheese and dairy company says the profit amounted to 33 cents per diluted share for the quarter ended June 30 compared with a profit of $141 million or 33 cents per diluted share a year earlier.

Revenue totalled $4.61 billion for what was the first quarter of the company’s 2025 financial year, up from $4.21 billion in the same quarter last year.

On an adjusted basis, Saputo says it earned 39 cents per diluted share for its latest quarter compared with an adjusted profit of 36 cents per diluted share a year earlier.

The company says the results reflected a continued solid performance by its Canadian business, meaningful improvements in the U.S. and higher sales volumes across its operations.

Saputo chair and CEO Lino Saputo says the company remains optimistic heading into the balance of the year as it continues to make progress on its strategic plan.

This report by The Canadian Press was first published Aug. 9, 2024.

Companies in this story: (TSX:SAP)

The Canadian Press. All rights reserved.

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End of Manitoba legislature session includes replacement-worker ban, machete rules

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WINNIPEG – Manitoba politicians are expected to pass several bills into law before the likely end of legislature session this evening.

The NDP government, with a solid majority of seats, is getting its omnibus budget bill through.

It enacts tax changes outlined in the spring budget, but also includes unrelated items, such as a ban on replacement workers during labour disputes.

The bill would also make it easier for workers to unionize, and would boost rebates for political campaign expenses.

Another bill expected to pass this evening would place new restrictions on the sale of machetes, in an attempt to crack down on crime.

Among the bills that are not expected to pass this session is one making it harder for landlords to raise rents above the inflation rate.

This report by The Canadian Press was first published Nov. 7, 2024

The Canadian Press. All rights reserved.



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Father charged with second-degree murder in infant’s death: police

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A Richmond Hill, Ont., man has been charged with second-degree murder in the death of his seven-week-old infant earlier this year.

York Regional Police say they were contacted by the York Children’s Aid Society about a child who had been taken to a hospital in Toronto on Jan. 15.

They say the baby had “significant injuries” that could not be explained by the parents.

The infant died three days later.

Police say the baby’s father, 30, was charged with second-degree murder on Oct. 23.

Anyone with more information on the case is urged to contact investigators.

This report by The Canadian Press was first published Nov. 7, 2024.

The Canadian Press. All rights reserved.



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Ontario fast-tracking several bills with little or no debate

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TORONTO – Ontario is pushing through several bills with little or no debate, which the government house leader says is due to a short legislative sitting.

The government has significantly reduced debate and committee time on the proposed law that would force municipalities to seek permission to install bike lanes when they would remove a car lane.

It also passed the fall economic statement that contains legislation to send out $200 cheques to taxpayers with reduced debating time.

The province tabled a bill Wednesday afternoon that would extend the per-vote subsidy program, which funnels money to political parties, until 2027.

That bill passed third reading Thursday morning with no debate and is awaiting royal assent.

Government House Leader Steve Clark did not answer a question about whether the province is speeding up passage of the bills in order to have an election in the spring, which Premier Doug Ford has not ruled out.

This report by The Canadian Press was first published Nov. 7, 2024.

The Canadian Press. All rights reserved.



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