Market News

Profits Rise at Canada Bread

Net earnings for Canada Bread Company Limited climbed 28% to $19.4 million in its first quarter, from $15.1 million a year ago. The Toronto-based company also reported that sales for the first-quarter period ending March 31, 2006, increased 4% to $301.6 million—driven mostly by improved product mix. "We had an exceptional quarter, driven by significant growth in our higher nutrition, higher margin grain breads," said company president and CEO Richard Lan, adding that the company was continuing to offset inflationary pressures, including rising fuel and freight costs, through ongoing price increases. Source; Canadian Grocer E-Newsletter, April 28, 2006.