Saputo scraps EBITDA target but expects profit lift
Dairy heavyweight Saputo has “withdrawn” a key EBITDA target but suggested a new milk-pricing formula in the US would bring an additional profit benefit. “Market conditions have not stabilised as we had anticipated, making this a prudent decision as we operate in what remains a dynamic consumer environment,” president and CEO Carl Colizza told analysts […]
Overview of annual performance of Global dairy giants
In February, almost all leaders of the global dairy market reported their results for 2023. Some companies will present their results until May 2024. However, today we can already see the picture being formed by major milk processors for themselves and the market. DairyNews Today has compiled key results and forecasts from leading companies for […]
Watchdog will ‘regret’ letting Coles buy milk processing plants
The ACCC approved the supermarket’s takeover of Saputo’s two dairy processing facilities after a ‘detailed review’ but farmers fear the move will reduce competition in the market Dairy industry representatives have said the Australian consumer watchdog will regret its decision to allow Coles to purchase two fresh milk processing facilities, making it the only supermarket in Australia […]
Saputo indicates pricing cycle linked to inflation near end
Saputo has indicated the pricing cycle linked to inflation is coming to an end but the international dairy major is still seeing some “softness” in the category. While Saputo said volumes across the group were “stable” in the second quarter and were higher in its domestic Canadian market, export volumes remained under pressure, particularly in Europe […]
Saputo prioritises value over volume to keep dairy “affordable”
Saputo has flipped its focus to value over volume after a challenging couple of years characterised by supply chain and inflationary pressures. As input costs “remain high” across the supply chain and wages, president and CEO Lino Saputo, Jr., said the Canadian dairy major is “focused on executing cost savings in addition to pricing initiatives […]
Canadian dairy giant Saputo has acquired Wensleydale Dairy Products,UK
Canadian dairy giant Saputo has entered into an agreement to acquire the activities of Wensleydale Dairy Products in the UK. The business, which will join Saputo’s Dairy Division (UK) under its Europe Sector, operates two facilities located in North Yorkshire and employs approximately 210 people. The purchase price of £23 million (€26.8m), on a cash-free […]
GHG emission from Top dairies equals 6.9 M passengers cars on road for an year
Institute for agriculture and Trade policies released their document Milking the planet 2020. This study reveals the contribution of various sectors on global greenhouse gas (GHG) emissions. Top 13 dairies in the world contributed to GHG more than fuel and fossil gas based industry in 2017. The combined emissions of the top dairies rose by […]