Canada Bread Q4 Net Profit Drops 36%

Canada Bread Co Ltd

posted a 36% drop in its fourth-quarter earnings. Canada Bread's quarterly net income fell to C$7.8 million, or 31 Canadian cents per share, from C$13.8 million, or 54 Canadian cents per share, in the year-earlier period. On an adjusted basis, Canada Bread earned 67 Canadian cents per share. Canada Bread's sales climbed 2% to C$400.3 million.