Feb 28 (Reuters) - Canada Bread Co Ltd’s quarterly earnings fell by 36 percent, hurt by changes in its manufacturing network and higher input costs in its frozen bakery products.
For the fourth-quarter, the company’s net income was C$7.8 million, or 31 Canadian cents a share, compared with C$13.8 million, or 54 Canadian cents a share, in the year-ago period.
On an adjusted basis, it earned 67 Canadian cents a share.
Sales at Canada Bread, which is 90 percent owned by Maple Leaf Foods Inc, rose 2 percent to C$400.3 million.
Maple Leaf also reported lower earnings on Tuesday as high costs hurt the profitability of its prepared meats and baked goods business.
Shares of the company closed at C$44.01 on Monday on the Toronto Stock Exchange.