Sask. Wheat Pool to shut 225 elevators
Article Abstract:
Saskatchewan Wheat Pool, a Regina, Canada-based publicly traded co-operative, has announced plans to close 225 to 235 grain elevators in Canada's Saskatchewan province and warned that its profit for fiscal year 1998 will be below analysts' expectations. The co-operative said that it will bear an estimated C$19.4-million restructuring charge for the integration of its grain collection system in the province. The wheat pool, which is investing C$270 million to set up 22 modern grain-handling facilities in the prairies, said that the older elevators will be closed within the following three to four years at around 170 sites in Saskatchewan. The pool said it anticipates to make share profit of 95 cents to C$1, excluding charges, which is below expectations of C$1.15 to C$1.20.
Comment:
Anticipates to make share profit of 95 cents to C$1, excluding charges, which is below expectations of C$1.15 to C$1.20
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1998
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Saskatchewan Wheat Pool reports 65% fall in profit
Article Abstract:
Saskatchewan Wheat Pool of Regina in Saskatchewan, Canada, a publicly-traded cooperative, has reported a 65% drop in profits to C$16.3 million, or 51 cents a share, in fiscal year ended July 31, 1998, from a profit of C$47.3 million, or C$1.60, for fiscal year 1997. Sales for the year also fell to C$4.17 billion from the previous year's C$4.23 billion. The company attributed the drop in profit to lesser grain shipments as well as charges for the closure of as many as 235 elevators in the Canadian province.
Comment:
Reports a 65% drop in profits to C$16.3 mil, or 51 cents a share, in fiscal year ended 7/31/98
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1998
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Troubled Cott warns of big loss
Article Abstract:
Cott Corp, a soft drink maker based in Toronto, Ontario, warned that various charges and writedowns will lead to a loss of $105 million to $110 million for the 11 months ended Jan 2, 1999. The company also warned that it expects to post $30 million to $35 million in after-tax loss from continuing operations. The company has been under a new management team, which was brought in summer 1998 to effect a turnaround.
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1999
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