George Weston Limited - Fourth Quarter and Fiscal Year Ended December 31, 2011(1).

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[{"type":"text","content":"\n\n\n\n\n\nTORONTO, March 1, 2012 /CNW/ - George Weston Limited (TSX: WN) (\"GWL\")\n and its subsidiaries (collectively the \"Company\") today is announcing\n its unaudited results for the fourth quarter of 2011 and the release of\n its 2011 Annual Report.\n\n\nThe Company's 2011 Annual Report to Shareholders, including the\n Company's audited annual consolidated financial statements and\n Management's Discussion and Analysis (\"MD&A\") for the fiscal year ended\n December 31, 2011, is available in the Investor Centre section of the\n Company's website at www.weston.ca and has been filed with the System for Electronic Document Analysis and\n Retrieval (\"SEDAR\") and will be available at www.sedar.com.\n\n\nCONSOLIDATED RESULTS OF OPERATIONS\nGeorge Weston Limited's fourth quarter 2011 adjusted basic net earnings\n per common share(2) were $1.01 compared to $0.92 in the same period in 2010, an increase of\n $0.09 or 9.8%. The increase in the fourth quarter of 2011 was due to\n improved operating results at Weston Foods and a decrease in income tax\n expense, partially offset by a decline in adjusted operating income(2) at Loblaw Companies Limited (\"Loblaw\") compared to the same period in\n 2010.\n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n(unaudited)\n\n\n12 Weeks Ended\n\n\n \n\n\n \n\n\n52 Weeks Ended\n\n\n \n\n\n \n\n\n($ millions except where otherwise indicated)\n\n\n \n\n\nDec. 31, 2011\n\n\n \n\n\n \n\n\nDec. 31, 2010 \n\n\n \n\n\nChange \n\n\n \n\n\n \n\n\nDec. 31, 2011\n\n\n \n\n\n \n\n\nDec. 31, 2010\n\n\n \n\n\nChange  \n\n\nSales\n\n\n$\n\n\n7,636\n\n\n \n\n\n$\n\n\n7,375\n\n\n \n\n\n3.5%\n\n\n \n\n\n$\n\n\n32,376\n\n\n \n\n\n$\n\n\n31,847\n\n\n \n\n\n1.7%\n\n\nOperating income\n\n\n$\n\n\n352\n\n\n \n\n\n$\n\n\n367\n\n\n \n\n\n(4.1)%\n\n\n \n\n\n$\n\n\n1,609\n\n\n \n\n\n$\n\n\n1,568\n\n\n \n\n\n2.6%\n\n\nOperating margin\n\n\n \n\n\n4.6%\n\n\n \n\n\n \n\n\n5.0%\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n5.0%\n\n\n \n\n\n \n\n\n4.9%\n\n\n \n\n\n \n\n\nAdjusted operating income(2)\n\n$\n\n\n373\n\n...

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