Canada Bread’s frozen bakery division has seen profits fall almost 50% despite an overall increase in sales for the year. Its frozen bakery division, made up of its North American and UK frozen bakery businesses, including Maple Leaf Bakery UK, which owns the New York Bakery Co brand, saw adjusted operating earnings fall 48.6% to $21.1m, from $41.1m in 2007. The company said these figures reflected the significant impact of higher commodity prices and production costs in 2008.