Canadian food processor and distributor George Weston has posted higher second-quarter profit, boosted by the strong performance by its Loblaw grocery retailer.
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The Toronto-based company reported earnings of C$193m (US$138.0m), or $1.42 a share, for the quarter to 30 June, compared with $161m, or $1.17 a share, for the year-ago period.
Revenues rose to $6.8bn from $6.3bn in the year-ago period.
Analysts polled by Reuters had expected earnings of $1.37 a share, on revenues of $6.74bn.
Loblaw, which accounts for around 80% of George Weston’s sales, recently reported a 22% rise in second-quarter profit, on a 9% rise in supermarket sales.
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