Australian retail food brand manager and franchisor, the publicly listed Retail Food Group Limited (RFG) has announced it is in the midst of a number of acquisitions which, if successful, will raise the number of food outlets it operates by around 15 per cent. RFG currently owns the Australian franchises of Donut King, Michel’s Patisserie, Brumby’s Bakeries, bb’s cafe, Esquires, and Big Dad’s Pies. The latest announcement was made by RFG’s CEO, Anthony Alford, at the company’s Annual... ...Read more »

Newly appointed CEO of Australian retail giant, Woolworths Limited, Grant O’Brien today warned of subdued Christmas trading in Australia this year. Addressing shareholders at Woolworths’ Annual General Meeting in Sydney, Mr O’Brien said he believes trading in Australia will “remain subdued – most probably through to the next financial year”. His warning comes days after market research organisation, IBISWorld, forecasted a flat Christmas for food retailers in Australia. Mr O’Brien... ...Read more »

Australia’s largest supermarket retailer, Woolworths, has today told shareholders that they remain on track to meet their targets this year as changes to consumer behaviour continue to assist their supermarket operations. The retailer, which is set to celebrate its 85th birthday next week, reaped a record profit result last year of $1.8 billion after tax and expects this to climb as much as 11 per cent in the current financial year. “Whilst we have started the 2010 financial year optimistically,... ...Read more »

The new Chairman of Patties Foods has admitted to shareholders that the company has underperformed since listing in 2006, but is confident that the new leadership team can drive their high profile Australian food brands to new heights. “Clearly, (the) transition from a private company to a listed entity has not been without its difficulties,” Christopher Riordan said at the company’s Annual General Meeting in Melbourne yesterday. “In FY 2009, there was undeniably disruption... ...Read more »

Goodman Fielder, Australia’s largest publicly listed food manufacturer, has told shareholders at their Annual General Meeting that the outlook for the coming year is “encouraging” and believes that the major headwinds of the past two years are behind them. “The Board is of the view that Goodman Fielder has now successfully managed its way through the two most formidable challenges which the company has faced in its recent history – the effects of the global financial crisis,... ...Read more »

Wesfarmers, one of Australia’s largest companies and owner of the Coles Group, has reiterated their belief that the Coles acquisition will prove a great buy in the long-term. The underperforming Coles business has begun to show signs of life in the past couple of quarters as the new management team drives efficiency improvements. And, while they are not yet where they want to be, the conglomerate is adamant that their five-year plan is right on schedule. “I do want to reaffirm the Board’s... ...Read more »

Australia’s largest brewer has today informed shareholders that they are on track to meet guidance for the current year (ex-currency), but are beginning to encounter headwinds as a result of a surging Australian dollar. “Adjusting for currency, Foster’s performance in the first quarter has been in line with expectations,” Chief Executive Officer Ian Johnston said at the AGM. “In Australia, beer is continuing to benefit from positive market conditions and earnings momentum... ...Read more »

Continued speculation of a multi-billion dollar merger between Australia’s largest alcoholic and non-alcoholic beverage makers has been quashed by Coca-Cola Amatil at their Annual General Meeting today. Terry Davis, CCA’s Chief Executive, told reporters that they were happy to continue pursuing organic growth via their joint venture with SAB Miller – Pacific Beverages. “We’re not concerned how long it takes us to get a bigger presence in the Australian beer market –... ...Read more »

Nestlé’s focus on becoming a health and wellness food group is resonating with consumers, their CEO has told investors at their Annual General Meeting in Switzerland. “The main force behind our performance is our brands,” CEO Paul Bulcke explained. “Their success is increasingly derived from their inherent nutritional credentials. Our Company’s commitment to growing our brands towards consumers is demonstrated by a 7.5% increase in consumer-facing marketing spend in... ...Read more »

Australia’s largest supermarket operator, Woolworths, has informed shareholders that their growth outlook remains on track, with plans to strengthen their market position in coming years. The nature of their business would partially “shield” them from the impact of any downturn, with investments unlikely to dry up because of economic conditions. Speaking at their AGM today, Woolworths Chairman James Strong outlined his belief that there was “continuing potential” to... ...Read more »