Goodman Fielder margins shrink, impairments lead to A$405M annual loss

Wed, 13 Aug 2014

By Jonathan Underhill Aug. 13 (BusinessDesk) - Goodman Fielder, the food maker under takeover offer from Wilmar International and First Pacific Co, posted a full-year loss after writing down the value of its baking and grocery businesses and recognising costs to exit businesses. The loss was A$405 million in the 12 months ended June 30, from a profit of A$83.5 million a year earlier. Sales rose 3.4 percent to about A$2.2 billion. The annual result shows rivalry in the grocery market and soaring costs for milk and wheat are dogging the...

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