MOORE <MCL> SEES SUBSTANTIAL 1987 PROFIT GAIN
Moore Corp Ltd expects 1987 profits from
continuing operations will exceed 1986 results and recover to
1985 levels when the company earned 152 mln U.S. dlrs or 1.70
dlrs a share, president M. Keith Goodrich said.
    "We'll have a substantial increase in earnings from
continuing operations," he told reporters after the annual
meeting. He said he expected profits would recover last year's
lost ground and reach 1985 results.
    In 1986, profits from continuing operations slumped to
139.5 mln dlrs or 1.54 dlrs a share. The total excluded losses
of 30 mln dlrs on discontinued operations.
    Goodrich said Moore is still actively looking for
acquisitions related to its core areas of business forms
manufacturing or handling.
    "We could do a large acquisition," he said when asked if
the company could raise as much as one billion dlrs for this
purpose.
    Chairman Judson Sinclair, answering a shareholder's
question, told the annual meeting that a special resolution
passed by shareholders to create a new class of preferred
shares would allow Moore to move quickly if it decided to
pursue an acquisition.
    "If we were to make a major acquisition ... it means we can
move with a certain expediency," Sinclair said.
    Asked if the resolution was designed to give Moore
protection from a possible hostile takeover, Sinclair said
only, "I know of no threat to the corporation at this time."
        
 Reuter
