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Company News

BRIEF-George Weston reports Q3 adjusted earnings per share of $2.14

Nov 21 (Reuters) - George Weston Ltd

* George Weston limited reports third quarter 2017 results(2)

* George Weston Ltd qtrly adjusted earnings per share $2.14

* George Weston Ltd qtrly shr $3.25

* George Weston Ltd qtrly sales $14.65 billion versus $14.61 billion

* George Weston Ltd - subsequent to end of Q3, Weston Foods announced planned closure of unprofitable facility in U.S.

* George Weston Ltd - management expects to make capital investments of approximately $220 million in 2017 for Weston Foods

* George Weston Ltd - performance of frozen business is “not expected to improve materially” in Q4 of 2017 for Weston Foods

* George Weston Ltd - Weston Foods expects closure of unprofitable facility in U.S. to be completed in Q1 of 2018

* George Weston -for 2017, sees growth in net earnings to be driven by net earnings increase at Loblaw, positive impact of increased ownership in Loblaw

* George Weston Ltd - management is “in the process of reviewing the strategy” in light of challenges at frozen foods business

* Q3 earnings per share view c$2.15 -- Thomson Reuters I/B/E/S

* George Weston Ltd - Weston Foods expects adjusted EBITDA in Q4 of 2017 to trend in a similar fashion to Q3 of 2017 when compared to prior year Source text for Eikon: Further company coverage:

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