Goodman Fielder, selling assets and taking charges, narrows annual loss

Tue, 14 Aug 2012

Aug. 14 (BusinessDesk) - Goodman Fielder posted a narrower full-year loss as the branded food and ingredients company presses on with asset sales, rationalising its line-up of businesses in a subdued Australasian market. The net loss was A$146.9 million in the 12 months ended June 30, from a loss of A$166.7 million a year earlier, the Sydney-based company said in a statement. Sales fell 1.7 percent to A$2.5 billion. Margins in Australia and New Zealand shrank as a tough retail market made it hard to pass on rising input costs. Impairments, r...

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