Australian supermarket operator Foodland Associated has reported a 14% rise in first-quarter earnings and forecast double-digit growth through the first half.
Go deeper with GlobalData
Chairman Don Humphreys said the group’s earnings before interest, tax and goodwill amortisation from continuing operations rose 14% in the first quarter compared to a year earlier, reported Reuters.
“This trend is expected to continue for the first half, with EBITA expected to show double-digit growth,” Humphreys was quoted as saying.
However, Humphreys also said that Foodland’s earnings performance would depend on the exchange rate between the Australian and New Zealand dollars.
He added that the company’s 42 supermarkets in Queensland were not meeting Foodland’s long-term expectations, although their profitability continued to improve.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
