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Shareholders talk before the Loblaw Companies Limited annual general meeting in Toronto on Wednesday, May 5, 2010. (NATHAN DENETTE)
Shareholders talk before the Loblaw Companies Limited annual general meeting in Toronto on Wednesday, May 5, 2010. (NATHAN DENETTE)

George Weston posts $105-million profit Add to ...

Canadian food processor and distributor George Weston Ltd. posted a higher quarterly profit Tuesday on the strength of the operating performance of its two affiliates, Weston Foods and Loblaw Cos Ltd.

First-quarter earnings rose to $105-million, or 74 cents a share, from $37-million, or 21 cents a share. On an adjusted basis, its profit was $1.07 a share. Sales dipped to $7.15-billion from $7.16-billion.

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Analysts had predicted earnings of 78 cents per share, according to a survey from Thomson Reuters.

Weston Foods is a fresh and frozen baking company that owns brands like Wonder and D'Italiano breads. George Weston also owns about 63 per cent of Loblaw.

 
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