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Company News

BRIEF-George Weston Limited Reports Q4 Earnings Per Share C$0.22

March 2 (Reuters) - George Weston Ltd:

* GEORGE WESTON LIMITED REPORTS 2017 FOURTH QUARTER AND FISCAL YEAR ENDED DECEMBER 31, 2017 RESULTS(2)

* Q4 ADJUSTED EARNINGS PER SHARE C$1.78

* Q4 EARNINGS PER SHARE C$0.22

* SEES 2018 WESTON FOODS SALES WILL BE ESSENTIALLY FLAT TO 2017

* SEES 2018 WESTON FOODS INVESTMENT IN CAPITAL EXPENDITURES OF APPROXIMATELY $230 MILLION

* QTRLY SALES $11.41 BILLION VERSUS $11.52 BLN

* Q4 EARNINGS PER SHARE VIEW C$1.67, REVENUE VIEW C$11.44 BILLION -- THOMSON REUTERS I/B/E/S

* SAYS FOR 2018, COMPANY EXPECTS ADJUSTED NET EARNINGS TO BE ESSENTIALLY FLAT DUE TO RESULTS OF LOBLAW AND WESTON FOODS

* HEADWINDS FROM MINIMUM WAGE INCREASES AND HEALTHCARE REFORM WILL NEGATIVELY IMPACT LOBLAW’S FINANCIAL PERFORMANCE IN 2018

* CO, LOBLAW HAVE NOT RECORDED ANY AMOUNTS RELATED TO POTENTIAL CIVIL LIABILITY ASSOCIATED WITH CLASS ACTION LAWSUITS IN Q4 2017

* IN Q4 OF 2017, WESTON FOODS RECORDED RESTRUCTURING AND OTHER CHARGES OF $33 MILLION

* GEORGE WESTON - CO, LOBLAW WILL NOT FACE CRIMINAL CHARGES OR PENALTIES DUE TO ADMISSION OF PARTICIPATION IN INDUSTRY-WIDE PRICE-FIXING ARRANGEMENT

* GEORGE WESTON - LOBLAW EXPECTS ANNOUNCED HEALTHCARE REFORM TO HAVE ADDITIONAL IMPACT OF ABOUT $250 MILLION ON OPERATING INCOME IN 2018

* QTRLY LOBLAW SEGMENT SALES $11.03 BILLION VERSUS $11.13 BILLION Source text for Eikon: Further company coverage: (Reuters.Brief@thomsonreuters.com)

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