Goodman Fielder 1H profit more than doubles on asset sales; revenue falls

Wed, 13 Feb 2013

Feb. 13 (BusinessDesk) – Goodman Fielder, the biggest food company in Australia and New Zealand, said first-half earnings more than doubled on gains from asset sales while revenue fell with the rise of supermarket inhouse baking and grocery brands. Profit rose to A$51 million, or 2.6 cents a share, in the six months ended Dec. 31, from $21.5 million, or 1.4 cents, a year earlier, the Sydney-based company said in a statement. Sales fell 9 percent to A$1.17 billion The shares fell 4.9 percent to 68.5 Australian cents on the ASX as the food mak...

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