13 Aug 2014

Goodman result no longer sure to rise

6:14 pm on 13 August 2014

Goodman Fielder says it made a $A405 million loss for the year ended June compared with a $A102.5 million profit the previous year.

Sure to rise - the baking, that is. Goodman Fielders brands include Meadowlea, Praise, Vogels and Edmonds.

Sure to rise - the baking, that is. Goodman Fielders brands include Meadowlea, Praise, Vogels and Edmonds. Photo: PHOTO NZ

The trans-Tasman food company says operating profit from continuing operations fell 11 percent, reflecting challenging commodity costs and trading conditions.

The bottom line result includes more than $A358 million of asset write-downs, a more than $A97 million dollar loss on the sale of its biscuits, meats and pizza division as well as restructuring costs.