George Weston Profit Surges In Q3

(RTTNews) - George Weston Limited (WN.TO), Friday announced third-quarter financial results, reporting a surge of 3,080 percent in net earnings to $477 million, or $1.23 per share, from last years' $15 million, or $0.03 per share.

On an adjusted basis, earnings totaled $533 million, or $1.37 per share, up 15.1 percent from $476 million, or $1.19 per share, in the previous year.

Analysts, on average, estimated earnings of $1.3 per share for the quarter.

Operating income stood at $1,638 million compared to $1,618 million in the prior year.

Revenue rose 4.6 percent, to $19,548 million from $18,685 million last year.

George Weston's stock closed at C$90.13, up 0.49 percent on the Toronto.