TORONTO Canadian bakery and grocery giant George Weston Ltd. (TSX:WN) remained
profitable in the fourth quarter but says it is facing inflationary pressures as
the cost of some of its staple ingredients continues to rise and squeeze
revenues.
North America’s largest baked goods maker has not increased prices since last
March and doesn’t plan to pass on cost increases to consumers in a “tough
market” for grocery retailers, said Weston’s chief financial officer, Bob Vaux.
“We are seeing some cost pressures of course… we’ve got sugar and cocoa headed
higher to near record levels and fuel heading back up as well,” Vaux said on a
conference call Tuesday.
Photo Caption: The George Weston Bakeries plant in Oconomowoc, WI.
Photo Credit: Scott Paulus, The Business Journal of Milwaukee
To read the rest of this story please go to:
The Candaian Press
