Patties Foods upgrades profit forecasts on back of improved sales

  • November 18, 2009
  • Daniel Palmer

Patties Foods has today informed investors that accounts to the end of October and estimates for November and December have ensured a positive revision to profit forecasts for the first half of the financial year.

The maker of the Four ‘N Twenty pie said they anticipate net profit after tax to be in the range of $7.25m to $8.75m – considerably above the $4.7m figure reported last year.

Patties said the profit growth was due to a number of factors including stronger sales, improved manufacturing efficiencies, reduced interest costs and the appreciation of the Australian dollar.

“This guidance is subject to audit review of the first half FY10 Accounts and reasonable trading conditions for the balance of the period,” the company added in a statement.


Bookmarks

  • Digg
  • Sphinn
  • del.icio.us
  • Facebook
  • Mixx
  • Google Bookmarks
  • Furl
  • Netvouz
  • NewsVine
  • Reddit
  • Fark
  • Propeller
  • Slashdot
  • StumbleUpon
  • Technorati

Reader Comments

Australian Food News reserves the right to edit or not publish comments of a potentially offensive or defamatory nature. Comments will not be published if name and email address has not been provided (name and email will be withheld if requested).

The opinions expressed below are those of Australian Food News readers and do not necessarily reflect those of Australian Food News.