AUSTRALIA: Natfoods shares tumble on profits shortfall
Shares in Australian dairy group National Foods took a tumble today [Friday] following disappointing first half profits leading to a dilution in full-year profit forecasts. Net profits in the first half to December climbed 12.5% to A$25.08m (US$12.97m), but this failed to match market expectations of A$27m. Managing director Max Ould said the group expects a marginally stronger second half, but analysts commented that initial market estimates could have been too high.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-food gives you the widest food market coverage.
Paid just-food members have unlimited access to all our exclusive content - including 17 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Dean Best, editor of just-food
- Comment: Premier has more to ponder than Brexit
- 2017: three major drivers of M&A strategy
- 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