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Goodman Fielder confirms in discussions with other parties

By NZPA

Wednesday 12th February 2003

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Food group Goodman Fielder Ltd today confirmed it was in discussions with other parties regarding its future after reporting a net profit before significant items of $A70.2 million ($NZ76.2 million) for the first half.

The group reported a $A66.7 million net profit after significant items, down 32.2 percent from the $A98.4 million net profit after significant items for the previous corresponding period.

Chief executive officer Tom Park said the first half results clearly underpinned the full year forecast of net profit after tax of $A121.5 million.

"In addition, positive first half results indicate potential upside for the full year if current market conditions prevail," Mr Park said.

Goodman Fielder is currently the subject of a takeover offer from Burns, Philp & Co.

Goodman Fielder managing director Tom Park said the company had had discussions with other parties.

"We have a variety of options, some of which include active discussions with other parties and we will report anything material, as is our obligation," he told journalists.

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