Friday, July 31, 2015
|George Weston Limited - WN.t was founded in 1882 and is a major Canadian public company, representing Canada’s largest food and drug retail businesses through its control of Loblaw Companies Limited and Loblaw’s recent acquisition of Shoppers Drug Mart.|
With over 2,300 stores the retail operations reach most Canadians everyday. Through Weston Foods, Weston is one of Canada’s leading bakers. Weston also controls Choice Properties REIT.
George Weston Limited (TSX: WN) ("GWL" or the "Company") today announced its consolidated unaudited results for the 12 weeks ended June 20, 2015. GWL's 2015 Second Quarter Report to Shareholders has been filed with SEDAR and is available at sedar.com and in the Investor Centre section of the Company's website at weston.ca.
"We are pleased with George Weston Limited's performance in the second quarter of 2015. We remain focused on delivering stable long term growth and profitability and creating long term value for shareholders", said W. Galen Weston, Executive Chairman, George Weston Limited.
Pavi Binning, President, George Weston Limited, commented that "In the second quarter, Loblaw continued to execute against its strategic framework, delivering solid results in both food and drug retail. Weston Foods delivered sales growth and results in line with expectations which reflected the impact of increased capital and incremental investments in targeted areas".
CONSOLIDATED RESULTS OF OPERATIONS
GWL's second quarter 2015 adjusted basic net earnings per common share increased to $1.33 from $1.25 in the same period in 2014. The increase of $0.08 was primarily due to an improvement in operating performance at Loblaw Companies Limited ("Loblaw"), partially offset by a decline in operating performance at Weston Foods.
Labels: George Weston Limited - WN.t