George Weston Ltd. reports Q2 profit down to $258M but adjusted earnings rise to $401M, announces three-for-one stock split.

George Weston Ltd., a Canadian company with significant investments in Loblaw and Choice Properties REIT, reported a second-quarter profit of $258 million, down from $400 million last year, due to a fair value adjustment. Adjusted earnings rose to $401 million or $3.06 per diluted share from $394 million or $2.93 per diluted share last year. Revenue increased to $14.82 billion. The company announced a three-for-one stock split to enhance share accessibility and liquidity.