MOORE &lt;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."
  

