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George Weston profit doubles

Reuters
10:28 AM, E.T. | November 23, 2010
Canadian

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George Weston Ltd. (WN-T), Canada's largest food processor and distributor, reported a doubling of third-quarter profit on Tuesday, but warned rising commodity prices and currency fluctuations could hurt its results in the coming months.

The company, which owns No. 1 Canadian supermarket chain Loblaw Co (L-T), said net income rose to $184 million, or $1.31 a share, from $86 million, or 56 cents a share, a year earlier.

Sales at the Toronto-based maker of Wonder bread and Girl Scout cookies were up 1 percent at $9.88 billion.

Analysts on average had expected earnings of $1.20 a share on revenue of $9.90 billion, according to analysts polled by Thomson Reuters.

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