Goodman Fielder sustains A$405.1 million loss

by Eric Schroeder
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NORTH RYDE, NEW SOUTH WALES — Higher freight and transport costs in the company’s Australian baking business combined with a challenging retail trading environment to drag down results at Goodman Fielder Ltd. in fiscal 2014. The company sustained a loss of A$405.1 million ($377.4 million) in the year ended June 30, which compared with income of A$83.5 million in fiscal 2013. Revenue for the year increased to A$2,199.9 million ($2,049.4 million) from A$2,127.6 million. “During the year, the company experienced a small number of breakdowns at its major bakeries, which affected production,” Goodman Fielder said. “To maintain customer service metrics under its daily fresh delivery model, Goodman Fielder invested in significant additional transport and logistics costs. The company is implementing a reliability improvement plan across its major bakeries, which includes continuous improvement programs to improve production efficiency and run rates.”

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