&lt;Guardian Trustco Inc>, earlierreporting a 198 pct increase in full year earnings per share,
said the outlook for 1987 is more modest.
    The company said it has started a number of long-term
growth projects which have a payback period exceeding one year.
Guardian Trustco did not give a specific earnings forecast.
    The company earlier reported 1986 net profit rose to
2,853,000 dlrs or 1.25 dlrs a share, from year-earlier
1,579,000 dlrs or 42 cts a share.
 Reuter
