Bakery grows at Canada Bread

29 February, 2012

Canadian firm Canada Bread saw overall bakery sales rise, following price increases implemented in early 2011, as well as increased sales volumes in its UK business.

Its bakery group, which includes Maple Leaf Bakery UK – owner of the New York Bakery Co brand – saw sales up 4%, to C$400.3m (£253.1m) for the fourth quarter to 31 December 2011.

The firm said adjusted operating earnings within its frozen bakery arm, which includes its UK business, were consistent at C$6.7m (£4.2m), with improved results in the UK, despite higher raw material costs, helped by the relaunch of its New York Bakery bagels.

During the fourth quarter, the company announced it would be closing its UK bakery in Walsall early in 2012, as part of its move to focus on the manufacture of morning goods and speciality bakery products.

In November last year, New York Bakery Co announced it had secured an £11.5m investment package from parent company Maple Leaf Bakery UK to expand the business, following increasing bagel sales.

Its existing Rotherham factory will be extended to increase capacity, which will see it become the largest bagel factory in Europe, according to the firm.

Canada Bread Company is 90% owned by Canadian-based Maple Leaf Foods.

>>Maple Leaf closes bakery despite increased profits

>>Maple Leaf to invest £11.5m in bagel growth





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