TORONTO — George Weston Ltd. is forging ahead with its plan to reduce the number of different products offered by its bakery division but progress is slower than expected, chairman and CEO Galen G. Weston said Tuesday.
Second-quarter sales at Weston Foods, the smaller of the company's two main divisions, were down 8.1 per cent at $468 million due to a combination of currency fluctuations, volume and changes in the mix of products sold.
The bakery division's operating income was down 12.5 per cent from a year ago, at $21 million, and its adjusted EBITDA was down 11.1 per cent at $48 million — driven by the decline in sales and higher input and distribution costs.
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