Goodman Fielder facing up to A$10 mln hit from rising milk prices

Fri, 22 Nov 2013

Nov. 22 (BusinessDesk) - Goodman Fielder, the food ingredients maker, expects its New Zealand dairy business to trim as much as A$10 million from its annual earnings due to rapidly rising milk prices and anticipates its 2014 profits will largely come through in the second half of the year. The Sydney-based company expects to lose between A$8 million and A$10 million of normalised earnings before interest and tax in its NZ dairy unit after farmgate milk prices jumped since the start of the financial year, and doubts it will be able to claw it...

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