date:Jul 04, 2013
Well-known Australian frozen food manufacturer Patties Foods Ltd has announced a lower than expected net profit after tax (NPAT) of $16.6 million, for the year ending 30 June 2013.
The Company, which owns a number of iconic Australian pie brands such as FourN Twenty, Nannas and Herbert Adams, said the lower trading results are due to softer market conditions than expected, overall gross margin pressure and the negative impact from commissioning the automated pie packaging equipment.
Patties Fo