Goodman Fielder has experienced a fall in profits of 88% to $A27.7 million for the year to June - though sales rose by 10% to $A2.7 billion.
The fall, for the year to June, was the result of a writedown and one-off restructuring costs.
The food company wrote off $A170 million of goodwill from its dairy division in New Zealand, and took another $A27.6 million in restructuring costs.
Underlying profit stood at $A220.7 million, with sales rising by 10% to $A2.7 billion.
The company says it has had to deal with higher commodity and freight costs, and a slowing New Zealand economy.
