CANADA: Empire delivers record operating results for the Q4 and FY 2002
Diversified Stellarton, Nova Scotia-based firm Empire Company Ltd has reported record operating results for the year ended 30 April 2002. Empire recorded operating earnings of C$132.2m (C$4.01 per share), up 49% on last year's C$88.5m (C$2.66 per share). Operating earnings are after goodwill amortisation of C$9.5m (C$0.29 per share) versus C$9.3m (C$0.28 per share) last year. Included are earnings from discontinued operations of C$8.7m versus C$10m last year, reflecting the sale by 62% owned Sobeys of substantially all of the net assets of SERCA Foodservice operations on 30 March 2002. Excluding these, operating earnings were C$123.5m up 57% on C$78.5m last year.
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