Amadeusz Juskowiak

Gelco gel sees flat 1987 pretax operating net

Gelco Corp said that excluding the effects of a restructuring plan it expects pretax operating earnings for the year to end July 31 1987 to be about the same as those of last year

For the year ended July 31 1986 Gelco reported pretax operating earnings of 148 mln dlrs or 108 dlrs a share

However final results will be affected by certain charges including legal and investment advisors fees preferred stock dividends and other costs of restructuring it said

Expenses associated with restructuring are expected to be offset by significant gains from the sale of some of Gelcos business units it said

The final outcome for the fiscal year will be determined by the timing and proceeds from the sale it added

Reuter