AUSTRALIA: National Foods sees FY net profit up 13%
Food manufacturer National Foods has posted a 13% increase in net profit to A$51.1m (US$) for its full 2001-2002 year, and has forecast overall profit growth for the next 18 months to two years of at least 15%. The increase came despite, rather than because of, the impact of National Foods' recent A$92m acquisition of the King Island Company. In the five months to 30 June, the company contributed a loss of A$1m.
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