AUSTRALIA: National Foods on target for full-year earnings growth of 15%
Australia’s largest listed dairy company National Foods has said that it is on target to increase full-year earnings by more than 15%.
National Foods managing director Max Ould said that the earnings growth would be helped by recent price increases as well as stronger sales volumes as a result of the company’s contract to supply milk to the country’s largest grocer Woolworths.
However, Ould said he remained frustrated at failed attempts to merge with rival co-op Dairy Farmers and warned that he may reassess his position next year if industry consolidation does not progress, reported Reuters.
Companies: Woolworths Ltd
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...
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