AUSTRALIA: Green Foods posts significantly better H2
Australian food producer Green Foods posted its H2 results today, revealing a significant improvement on the 91% decrease in net profit of H1 but news of a long way to go.
The company that manufactures Dick Smith peanut butter and Vetta pasta has received a huge sales boost from the arrival of German discount giant Aldi onto the retail scene, a supermarket chain that relies upon own brand products. Green Food's sales therefore recovered in January and February and rose 13% to A$83.3m for the whole of H2.
During the H1, lower profits were attributed to higher than anticipated costs and an 18-month restructuring programme, which saw the establishment of Green Food's pasta plant and inefficiencies with its relocated "wet food" production lines. With these difficulties now being overcome however, the company is aiming to reach the A$7.7m level of profitability predicted in December 1999 in two financial years.
With 76% of Australia's food retail market, just two companies, Woolworths and Coles, dominate the region. In a two-part review, David Robertson looks at both supermarket chains. The first article wil...
Buying power is often used by supermarkets to negotiate with their suppliers to get lower prices. These savings can then be passed onto the consumer in terms of price cuts and promotions. But do consu...
Aldi Süd, the German unit of the discount retailer, will be launching a product certification scheme designed to boost the image of private label products, the company informed just-food today (14 Mar...
The Kwik Save chain that was purchased from Somerfield by Back to the Future (BTTF), a consortium led by Richard Kirk, will remove non-food and own brand products from its shelves....
German discount food retailer Aldi will open its first shops in Hungary in 2007, according to the Budapest Business Journal, which cited a report published by news portal HVG....
Cash strapped universities in Japan have taken to raising and growing food to bolster income as student intake falls steadily each year owing to the country's shrinking child population....
Germany discount retail giant Aldi has reportedly begun selling a small number of branded products in its domestic market, making a change from its traditional focus on cheaper private-label brands....
Dairy co-operative Milk Link has announced that it plans to launch its range of Moo dairy products to the export market at Anuga, in Cologne in October....
- 2017: three major drivers of M&A strategy
- Comment: Premier has more to ponder than Brexit
- The food market in 2017 - consumer trends and M&A
- Trump seen as negative for global food trade
- Analysis: B&G Foods balancing growth and decline
- Premier Foods issues profit warning
- Nestle mum on Mead Johnson takeover talk
- Mondelez sells Vegemite to Bega
- Kellogg to slash 250 jobs
- Emmi to buy dessert maker Italian Fresh Foods