Toronto / CA. (cbl) Canada Bread Company Limited reported a Q2/2008 net income of 6,5 million CAD or 0,26 CAD per share, compared to 21,23 million CAD or 0,84 CAD per share last year. Adjusted earnings per share were 0,30 CAD, lower than 0,84 CAD in the prior-year quarter. Quarterly sales grew to 437,42 million CAD from 375,72 million CAD in the comparable period a year ago.
«High commodity prices continued to have a significant impact on our margins and financial results», said Richard Lan, President and CEO. «We believe these effects, while material, are short-term with improvements to come in the second half of the year as markets stabilize and we continue to pass on costs by way of price increases to offset the effects of commodity inflation» (press release).
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