Bread giant Goodman Fielder has announced a reduction in its expected profits following a “soft” third quarter, with businesses affected by retailer competition between Coles and Woolworths, fallout from the floods, commodity costs and the high Australian dollar. “At the time of the release of the company’s Interim results, the company anticipated that NPAT for the year would be in line with the prior year’s normalised earnings. The company now expects FY 2011 NPAT to be in... ...Read more »

The chairman of Australian food manufacturer Goodman Fielder has warned that the company “continues to confront commodity cost pressures and significant price volatility”. In a letter sent to shareholders last week, Max Ould said the breads-to-spreads manufacturer said its “challenge” will be to recover the increases in the marketplace. However, he added that it will be “even more difficult” for Goodman Fielder to recover its cost increases “given the extreme... ...Read more »

Foodbank last night awarded its annual Foodbank Patron’s Award to partner Goodman Fielder Baking, in recognition of the company’s ongoing committment to food charity, particularly its ‘Daily Bread’ program. The award, presented in Sydney by Governor-General and Patron of Foodbank Australia, Her Excellency Ms Quentin Bryce AC, is given in recognition of a company that has demonstrated unrivalled commitment over time to Foodbank’s objectives and is an inspiration and role... ...Read more »

Goodman Fielder, Australia’s largest food group, has announced yesterday (18 January) that CEO Peter Margin has resigned from the company.Shares in the breads and spreads producer fell almost 3% to A$1.31 a share at the close of trading today after the announcement that Margin would be leaving to “pursue the next stage of his career”. Chairman Max Ould said Margin had done an “outstanding job of leading the company” through its IPO in late 2005 and “establishing... ...Read more »

A report by Sydney based The George Institute for Global Health, released yesterday, says that despite the government’s Food and Health Dialogue, salt levels in Australian bread products have not changed since 2007. Bread has recently become a target for sodium reduction, with one fifth of daily salt intake for Australians coming through bread, and daily salt intake between five and 10 times that required for good health. The report comes just two days after the Australian Food and Grocery... ...Read more »

Australian food manufacturer Goodman Fielder has terminated the sale of its edible fats and oils division to Cargill after regulators opposed the deal.The Australian Competition and Consumer Commission (ACCC) said in March that it planned to oppose the A$240m (US$238.5m) sale as it would lead to a “significant concentration of refining assets in Australia”. The ACCC said a deal would also remove “one of only a small number of competing refiners that offer a wide range of fats and... ...Read more »

The Australian Competition and Consumer Commission today announced that it intends to oppose the proposed acquisition of Goodman Fielder’s edible fats and oils business by Cargill Australia.Goodman Fielder is currently the largest refiner of edible fats and oils in Australia, supplying a wide range of products, including margarines, oils blends, bakery fats and liquid oils. Cargill Australia is also a refiner of edible fats and oils and is the largest supplier of crude oils to Australian edible... ...Read more »

The Australian Competition and Consumer Commission today issued a Statement of Issues on the proposed acquisition of Goodman Fielder Limited’s commercial edible fats and oils business by Cargill Australia Ltd. The Statement of Issues seeks further information on certain competition issues which have arisen from the ACCC’s market inquiries to date. Goodman Fielder is the largest supplier of refined edible oils and fats in Australia, while Cargill is the third largest supplier.  According... ...Read more »

Goodman Fielder has today confirmed the retirement of Gavin Walker from their Board of Directors. Mr Walker advised that, following the recent merger of Lion Nathan and National Foods, he has continued his role with the merged entity and he now has a potential conflict of interest due to both companies’ interests in dairy. At Goodman Fielder’s recent Annual General Meeting Mr Walker indicated that he intended to resign from the Board before the end of 2009. In making the announcement... ...Read more »

Goodman Fielder has announced the sale of its Commercial division edible fats and oils operations to Cargill for $240 million. The ASX-listed manufacturer announced they would proceed with a sale earlier this year as they look to focus on their consumer brands. The deal will enhance Cargill’s operations in Australia, which already include oilseed processing and further value adding, grain and oilseed merchandising, bulk handling, flour milling through its Allied Mills joint venture, and beef... ...Read more »