November 22, 2011 / 1:28 PM / 7 years ago

UPDATE 1-George Weston Q3 profit up 50 pct

Nov 22 (Reuters) - Canadian food processor and distributor George Weston Ltd posted a 50 percent rise in quarterly profit, helped by strong sales growth at its affiliate, Weston Foods.

Third-quarter earnings rose to C$264 million, or C$1.94 a basic share, from C$176 million, or C$1.26 per basic share, a year ago.

On an adjusted basis, the company earned C$1.44 per basic share.

Sales rose 2.4 percent to C$10.06 billion.

Sales at Weston Foods rose 10.3 percent to C$545 million, the company said in a statement. (Reporting by Maneesha Tiwari in Bangalore; Editing by Esha Dey)

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