February 14, 2008 / 1:40 PM / 10 years ago

George Weston swings to fourth-quarter profit

OTTAWA, Feb 14 (Reuters) - Canadian food processor and distributor George Weston (WN.TO) said on Thursday that it swung to a fourth-quarter profit compared with year-earlier results that had a big writedown from its majority stake in supermarket chain Loblaw (L.TO).

    North America’s largest baked goods maker said it earned C$151 million, or C$1.07 cents a share in the quarter, compared with a loss of C$428 million, or C$3.42 a share, in the same period a year earlier.

    Adjusted earnings from continuing operations fell to 89 Canadian cents from C$1.14 per share.

    $1=$1.00 Canadian Reporting by Susan Taylor; Editing by Scott Anderson

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