George Weston reports fourth-quarter profit as it completes sale of bakery business

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The company sold its Weston Foods bakery business in two separate deals that closed in December for a total of $1.47-billion in gross proceeds

and Choice Properties REIT, reported its profit available to common shareholders totalled $217-million or $1.44 per diluted share for its fourth quarter, down from $289-million or $1.88 per diluted share a year earlier.

Revenue for the 12-week period ended Dec. 31 totalled $12.90-billion, down from $13.43-billion in a 13-week period ended Dec. 31, 2020. “Loblaw and Choice Properties showed strength in the fourth quarter as they delivered improved results across the board,” chairman and chief executive Galen G. Weston said in a statement.

 

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