Goodman Fielder Limited
(ASX:GFF) has put a knife to its full year earnings guidance.
The manufacturer of food and food ingredients now expects its annual earnings to fall between 10 – 15 per cent from current analysts’ consensus.
The company has cited a deterioration in market conditions in Australia and New Zealand for the anticipated drop to earnings.
Goodman Fielder has advised it has accelerated cost reduction programs across its businesses in response to the challenging trading conditions.
Goodman Fielder reported a net loss of $61 million in the first half of the 2014 financial year.
