TORONTO — George Weston Ltd. reported its fourth-quarter profit rose compared with year ago as its sales edged higher.
The company says it earned $271 million attributable to its common shareholders or $1.86 per diluted share for the quarter ended Dec. 31.
That compared with a profit of $34 million or 27 cents per share in the same period a year earlier, when it had fewer shares outstanding.
Sales totalled $11.72 billion, up from $11.40 billion a year earlier.
On an adjusted basis, George Weston says it earned $1.59 per share for its most recent quarter, down from $1.76 per share a year earlier due to the increase in the number of shares in the most recent quarter.
The average analyst estimate had been for a profit of $1.57 per share, according to Thomson Reuters Eikon.
“Having successfully completed the spin-out of Choice Properties, George Weston has transformed into a more balanced and diversified company, with three strong and well-positioned pillars in retail, food and real estate,” said Galen G. Weston, chairman and chief executive in a statement.
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