AUSTRALIA: Foodland reports robust Q2 sales
Australia's Foodland supermarket revealed a 29.6% jump in second quarter sales pushing its share price up 3% to a record A$14.21 (US$7.24). The increase is above forecasts and has prompted analysts to upgrade their full-year profit predictions for Foodland toA$85m. The company says that sales were strong over the Christmas period in both of its major markets, New Zealand and Western Australia. Foodland's managing director Trevor Coates also said that the economies of both countries looked strong going into the second half.
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