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Costly bakery consolidation and rocky conditions hit Goodman Fielder
date:Jul 25, 2012
The Sydney head-quartered food giant said 2012 revenues would be hit by up to A$275m in costs for divestments, restructuring and struggling sales.

In a trading update released yesterday, the firm said FY12 earnings would be at the lower end of the A$230-$245m range outlined in its February interim results.

Last month Goodman Fielder announced an overhaul of its bakery businesses Project Renaissance in a bid to reduce costs (save A$100m by 2015) and improve efficiency amid struggling sales. I

12/22 01:15