11:54 AM EST - George Weston Ltd. : reported a surge in profit for the fourth quarter, buoyed by the sale of its Canadian dairy and bottling operations. The Toronto-based company's net earnings for the fourth quarter surged to $404 million or $3.05 per share from $151 million or $1.07 per share in the prior-year quarter. Net earnings from continuing operations for the quarter increased to $356 million or $2.68 per share from $110 million or $0.75 per share last year. Net earnings from discontinued operations for the quarter rose to $48 million or $0.37 per share from $41 million or $0.32 per share in the prior year. Operating income for the quarter increased to $345 million from the prior-year quarter. Results for the fourth quarter included a pre-tax gain of $335 million or $2.18 per share on disposal of its Canadian dairy and bottling operations to Saputo Inc. George Weston Ltd.
shares T.WN are trading down $0.09 at $61.22.
