Australia&#39;s National Foods FY Net Up 14% To A$68.7M
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MELBOURNE (Dow Jones)--Australian dairy company National Foods Ltd. (NFD.AU) reported Friday a net profit of A$68.7 million for the year ended June 30, up 14% from A$60.
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Nestle, the world&#39;s biggest food and drink company, on Wednesday posted a first-half net profit of $2.28 billion, up 0.02 percent on the year-earlier figure of $2.03 billion.
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P&G said second-quarter earnings rose 14 percent as strong sales growth and cost-cutting measures more than offset higher commodity costs.
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Australia&#39;s economy expanded 1.6 percent in the March quarter, posting its strongest growth in three years and sending the Australian dollar to a 17-year high, official data released Wednesday showed.
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APN News and Media, the Australian media group, reported a 7 per cent rise in annual profits yesterday, as expected, and reaffirmed its support for a A$2.8bn ([pound]1.1bn) takeover bid from a consortium led by Independent News and Media, publisher of The Independent.
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Fonterra Cooperative Group Ltd says it does not want to limit its options on the price it has offered for Australia&#39;s National Foods Ltd.
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Wholesale prices -- catapulted by more expensive energy and food -- soared last month by the largest amount in more than 14 years.
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WELLINGTON (Dow Jones)--New Zealand dairy giant Fonterra Co-Operative Group Ltd. (FCG.YY) said Thursday its takeover offer for Australian-based National Foods (NFD.
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NATIONAL Australia Bank shares rose sharply yesterday despite a 19.7 per cent fall in annual net profit to $3.2 billion. Investors took comfort in chief executive John Stewart&#39;s
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The company said first-quarter profit rose 14 percent on strong sales growth across nearly all regions.
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Prices paid to US producers rose 1.7 percent last month, the biggest jump in 14 years, as higher energy and food costs suggested that inflation is picking up with economic demand.
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Shares in takeover target National Foods have pushed further ahead on the Australian Stock Exchange. Yesterday, they surged more than 5 per cent higher to $6.25, after Philippine food and drink giant San Miguel
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San Miguel, the Philippines-based food and drinks group, has emerged as a white knight for National Foods, on Thursday unveiling aA$1.78bn ($1.37bn) recommended offer for the Australian dairy producer.
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Southeast Asiaâs largest food and beverage company, San Miguel Corp. , has launched a rival A$1.78 billion ($1.37 billion) bid for Australian dairy group National Foods Ltd.
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SAN MIGUEL Corporation, Southeast Asia&#39;s largest food and beverage company, yesterday announced its A$178-billion ($1.37 billion) bid to acquire National Foods Ltd.
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Australian stocks rose as Metcash Trading Ltd. had its biggest gain in almost four years after Citigroup Inc. raised the stock&#39;s rating, citing an offer to buy Foodland Associated Ltd.
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Australia&#39;s biggest retailer Coles Myer has posted a record net profit of Aust. $576.5 million ($403 million) and says it is on track to achieve its 2006 target of A$800 million.