Australia’s largest publicly listed food manufacturer, Goodman Fielder, has warned that first-half profit is likely to be down 15% on last year with private label pressure and commodity costs impacting on the business. The company booked a 10.2% increase in revenue to $2675.4 million in the fiancial year 07/08 and net profit, on a normalised basis, rose marginally to $220.7 million. “Today in our region we are operating in a climate of considerable uncertainty. We are in the midst of... ...Read more »

The Chairman of Wesfarmers, Trevor Eastwood, has told shareholders that he is excited about the platform for growth of Coles, now that the senior management team is in place. Mr Eastwood was looking to appease shareholders who have watched Wesfarmers’ share price drop to less than half of what it was a year ago and rejected proposed pay rises for the company’s directors. The proposed bonus scheme could see the salary of the company’s Managing Director, Richard Goyder, increase... ...Read more »