The Australian Financial Review reported that, Goodman Fielder Ltd. is set to sell its commercial fats and oils business for between AUD 200 million and AUD 300 million. Goodman Fielder had placed the unit on the market in May after failing to sell it to Cargill Inc. and gave Citigroup Inc. a mandate to find a buyer, Australian Financial Review said. The report added that, Cargill is still considered the most likely buyer. IFFCO Poultry Co. Limited may have been interested in the unit, Olam International Limited and Wilmar International Limited may also have looked at the sale information memorandum, Australian Financial said.

Goodman Fielder Ltd. reported parent and group earnings results for the year ended June 30, 2009. For the period, the parent reported profit before income tax of $267.9 million compared to $264.3 million for the same period a year ago. Profit from continuing operations of $251.3 million or diluted earnings per share of 11.9 cents compared to $254.0 million or 0.4 cents for the same period a year ago. Profit attributable to equity holders of Goodman Fielder Limited of $251.3 million compared to $254.0 million for the same period a year ago. For the period, the group reported payments for property, plant and equipment of $93.6 million compared to $68.1 million for the same period a year ago. Return on equity of 10.9% compared to 1.7% for the same period a year ago. Net debt of $999.4 million compared to $1,043.4 million for the same period a year ago.

Goodman Fielder Ltd stated that it is in talks to divest its fats and oils business after receiving some offers for it. The company would provide an update on the future of the business before its November annual meeting.