Goodman Fielder won't see full year profit gains, hurt by dairy prices, grocery wars

Wed, 12 Feb 2014

By Suze Metherell Feb. 12 (BusinessDesk) – Goodman Fielder, Australasia’s largest food company, says the rebound predicted for the second half won't be enough to lift full-year earnings as it grapples with soaring milk prices and rivalry in baking goods. The shares dropped 7.4 percent. Normalised earnings before interest and tax in 2014 will be "broadly in line" with the previous year's A$185.6 million, assuming no change in market conditions, the Sydney based company said in a statement. First half EBIT on that basis fell 8 percent to A$77....

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