George Weston reports profit of $124 million, down from year ago

George Weston Ltd. reported a third-quarter profit attributable to common shareholders of $124 million, down from $303 million in the same quarter last year.

The company, which owns large interests in Loblaw Companies Ltd. and Choice Properties Real Estate Investment Trust, says the profit amounted to 82 cents per diluted share for the16-week period ended Oct. 9, down from $1.96 per diluted share a year ago.

Revenue totalled $16.19 billion, up from $15.81 billion in the same quarter last year.

On an adjusted basis, George Weston says it earned $2.39 per diluted share, up from $2.32 per diluted share a year ago.