Saputo Inc. says its first-quarter profits were stronger with the help of higher cheese prices in the United States.
The Montreal-based cheese, milk and snack-foods producer says overall profit rose to $111.4-million for the period ended June 30.
That's up 31 per cent from $84.8-million a year earlier.
The quarterly results were worth 53 cents per share, up from 41 cents in the comparable period last year.
Saputo said the company benefited from a 21 cent increase in the average price per block of cheese, which rose to $1.40 (U.S.) a pound.
Revenues slipped to $1.436-billion from $1.446-billion, as the higher Canadian dollar reduced the value of U.S. sales.