25 Nov 2013

Goodman Fielder expects to earn more in second half

7:01 am on 25 November 2013

Goodman Fielder expects to earn significantly more in its second half than its first half because the first-half profit will be hit by a number of factors.

The Trans-Tasman food company says its diary business in New Zealand has been hit by further increases in commodity prices which will take time to recover through higher prices and the company is also increasing investment in Australia on direct marketing.

Operating profit from the New Zealand diary business will be reduced by $A8 million to $A10 million because of higher milk prices and the company says it's very unlikely to recover that in the second half.