Farms.com Home   News

George Weston Ltd. reports fourth-quarter profit up from year-ago mark

TORONTO - George Weston Ltd. reported its fourth-quarter profit rose compared with a year earlier, boosted in part by an improvement in its underlying business, increased ownership in Loblaw and a full year of direct ownership in Choice Properties Real Estate Investment Trust.
 
The retail, bakery and real estate business says its net earnings available to common shareholders totalled $433 million or $2.81 per diluted share, up from $271 million or $1.86 per diluted share in the last three months of 2018.
 
Sales totalled $12.1 billion, up from $11.7 billion in the same quarter a year earlier.
 
On an adjusted basis, George Weston say sit earned $1.69 per diluted share in the quarter, up from $1.59 per diluted share in the fourth quarter of 2018.
 
Analysts on average had expected an adjusted profit of $1.87 per diluted share, according to financial markets data firm Refinitiv.
 
George Weston's businesses include Loblaw, Choice Properties and Weston Foods.
Source : FCC

Trending Video

A Tribute to Retiring President Peggy Brekveld

Video: A Tribute to Retiring President Peggy Brekveld

A tribute video to retiring OFA President Peggy Brekveld for her more than a decade of service to this organization. Peggy first joined the board of the Ontario Federation of Agriculture in 2011, representing northern Ontario, and now serves as a director-at-large