Foreign exchanges losses and other charges led to a 97-per-cent drop in second-quarter profit for food producer George Weston Ltd., despite a slight uptick in sales thanks to its stake in grocery chain Loblaw Co. The Toronto-based baked goods maker and parent company of Loblaw Cos. yesterday reported a profit of $4-million for the quarter ended June 30, a sharp drop from $118-million in the same period a year ago. However, that translated to a loss of 5 cents per share, reversing a year-earlier profit of 84 cents per share, after deducting earnings attributable to preferred shareholders. WN (TSX) closed at $58.71, down 22 cents.
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