NZX

In its first full year as a publicly listed company, Goodman Fielder has recorded another solid earnings performance with most businesses performing above expectations.

Net profit for the year was $243.2 million, an increase of $45.7 million or 23% on the previous year. The company's businesses generally performed well with revenue increasing by 2% from the prior year to $2,426.7 million. Earnings before interest, tax, depreciation and amortisation also grew, up by 7.5% to $444.1 million.

The result includes restructuring and integration costs of $13.0 million (post tax) and foreign exchange gains of $34.1 million (post tax). This delivers a normalised NPAT of $222.1 million.

FY2007; FY2006; Variation
Revenue: $2,426.7m;$2,379.0m;+2.0%
EBITDA: $444.1m;$413.1m;+7.5%
EBIT: $388.9m;$360.1m;+8.0%
NPAT(incl. OEI): $243.2m;$197.5m;+23.1%
EPS: 18.1c;14.7c;+23.1%
Dividend: 13.5c;5.5c (1/2 year)

The year was marked by particularly strong performances from the company's Fresh Baking and Commercial divisions, continuing the momentum established over the past two years. The company's Home Ingredients division performed well in Australia but overall was held back by a weaker first half performance in New Zealand.

A highlight of the year was the company's robust management of considerably increased commodity costs. Substantial increases in commodity prices increased the company's cost base significantly, however these increases were actively managed with margins being maintained following successful cost recovery in the marketplace.

Another highlight was the good progress made on the company's growth strategy with a number of value adding acquisitions and their successful integration into the existing business.

Businesses and brands acquired during the year included, in Australia, Country Life Bakery, Flinders Bread, Moores and Early Harvest Specialty Breads, and the Copperpot dips, yoghurt and pate business. In New Zealand, the company acquired Northern Bakeries, River Mill Bakeries and Canterbury Flour Mills during the year. Since year end Goodman Fielder has acquired the dairy business of the New Zealand company IDP Mainland Limited.

The company made significant progress during the year on its plan to increase manufacturing efficiency by consolidating its manufacturing assets across its portfolio. The company closed a number of older plants and is progressively restructuring its production platform to become the lowest cost manufacturer in the industry.

Our New Zealand dairy business made a slow start to the year following a disappointing performance in the previous financial year. As a result, the business was substantially restructured to create a more focused management structure under new leadership. These changes began to take effect in the second half and the business finished the year in a much improved position.

GF Fresh Baking

The GF Fresh Baking business experienced strong earnings improvement for the 2007 financial year, with the business returning EBITDA of $175.9 million, an increase of 22% on the prior year.

FY2007;FY2006;Variation
Sales: $960.9m;$919.7m;+4.5%
EBITDA: $175.9m;$144.7m;+21.6%
EBIT: $150.9m;$125.0m;+20.7%

The company's Fresh Baking division had an excellent year and returned a fourth successive year of double digit EBITDA growth. Although commodity costs rose to record levels during the year and the company incurred cost increases in fuel, packaging, oils and labour costs, all increases were recovered through a combination of price increases and internal cost reductions.

In Australia, the manufacturing function was reorganised under new leadership and the company is moving to a production platform focused on high volume, low complexity plants supported by a number of specialised plants to cater for more complex lower volume products. During the year a number of new products were launched into the market and several existing products were extended into new regions. A major private label contract had its duration and scope extended.

Market shares in loaf bread in the supermarket chains remained solid during the financial year and the company enjoyed steady growth in the supermarket sector. The trend to healthier eating alternatives continued during the year with the company's share of these higher margin categories increasing over the period in a growing market segment. This trend sustains the strong category value growth trend.

In New Zealand the GF Fresh Baking business had a relatively poor start to the year but experienced a better second half, finishing the year strongly. As in Australia, commodity and other costs rose steeply with business results being negatively affected, but price increases and cost reduction strategies were successfully implemented. Two non-essential manufacturing plants were closed.

Going forward the focus will be on new product development, with a renewed emphasis on innovation and launches of several new products planned. The focus on business efficiency and cost reduction will continue.

GF Home Ingredients

The GF Home Ingredients business performed well in Australia during the year, but was held back by its New Zealand performance. The business returned EBITDA of $91.1 million, up 3% on the prior year.

FY2007;FY2006;Variation
Sales: $367.6m;$342.5m;+7.3%
EBITDA: $91.1m;$88.7m;+2.7%
EBIT: $89.0m;$87.3m;+1.9%

In Australia the business has performed strongly during the year and increased its market share significantly as well as outperforming the market.

The company continues to leverage off the strength of its existing brands by extending their reach into new products. The business also concentrated on forging and maintaining strong retail partnerships.

In New Zealand, the business did not perform up to expectations in the first half of the year. However a reorganisation early in the second half resulted in an improved performance with the business ending the year strongly.

The Copperpot business was acquired during the year and has now been fully integrated. This acquisition will provide the business with a competence in shorter shelf life and chilled products which can be leveraged into other areas.

Going forward there will be a continuing emphasis on the ambient and frozen product segments to maintain market share growth in these categories. Incrementally to this, the company will pursue expansion in the supermarket chiller with spreadable butter, dips and expanded yoghurt offerings to complement the existing spreads business.

GF Commercial

The GF Commercial business continued to perform solidly during the year. EBITDA was $82.4 million, up 11% on the prior year.

FY2007; FY2006; Variation
Sales: $524.5m;$498.6m;+5.2%
EBITDA: $82.4m;$74.6m;+10.5%
EBIT: $69.2m;$58.4m;+18.5%

This result follows a similar solid performance in the prior year, maintaining the momentum established over the past three years despite increases in commodity costs.

Commodity prices over the period were at historically high levels with some reaching all time highs. Despite these cost pressures, the business was able to recover the increases in the market place through quarterly price reviews and through operational improvements, particularly in the supply chain.

In Australia and New Zealand the focus continues to be on developing and marketing healthy oils and a number of lower saturated fat and virtually trans-free products were developed during the year.

Exports into Asia increased strongly continuing the recent trend. However returns from the region were impacted by the strengthening Australian dollar.

Pacific

The Pacific business returned a solid EBITDA of $33.3 million for the year, an increase of 5% on the prior year.

FY2007;FY2006; Variation
Sales: $180.3m;$178.4m;+1.1%
EBITDA: $33.3m;$31.7m;+5.0%
EBIT: $29.3m;$27.4m;+6.9%

This result follows a similar performance in the prior year. The major developments during the year were the acquisition of La Biscuitiere, a leading baking business in New Caledonia, and the divestment of a non-core stockfeed business.

The Fiji business returned a solid result despite the impact of the military coup during the year, while in Papua New Guinea the company's flour milling operations performed strongly.

GF Fresh Dairy

The GF Fresh Dairy business in New Zealand delivered an EBITDA of $61.4 million for the year, a decrease of 25% on the prior year.

FY2007; FY2006; Variation
Sales: $393.4m;$439.8m;-10.6%
EBITDA: $61.4m;$82.2m;-25.3%
EBIT: $50.5m;$70.8m;-28.7%

The business did not perform to expectations in the first half of the financial year but, following an operational reorganisation midway through the year, it closed the year in a much improved position. The restructure resulted in greater accountability with the New Zealand dairy assets being split out as a stand alone division under new leadership.

During the year the fresh milk business experienced difficult conditions with considerable downward pressure on retail pricing. This followed a substantial reduction in retail pricing of supermarket house brand milk and a significant increase in raw milk pricing. Despite these pressures brand share remained stable.

Since year end, the company announced that it had entered into an agreement to acquire the business of IDP Mainland Limited (IDP), which will increase Goodman Fielder's presence in the route trade where IDP sells its Cow & Gate brand milk. The company has also been awarded a major milk supply contract with one of New Zealand's largest supermarket chains.

In the chilled dairy category, the company performed strongly and recorded a significant increase in market share following a successful relaunch of its yoghurt range and the success of Activate, a functional food probiotic yoghurt. Going forward the company will be pursuing growth in all of its key categories with a new yoghurt production line to be installed to meet market demand and considerable effort in new product development resulting in the launch of several new products and new packaging formats. The company will also be entering new segments leveraging off the strength of its leading brands.

Dividend

Directors announced a final dividend of 7.5 cents per share, bringing the full year dividend to 13.5 cents per share. The final dividend is payable on 31 October 2007. Books close on 28 September 2007.

Board appointments and elections

During the year the Board appointed two new independent non - executive Directors, Mr Gavin Walker and Mr Clive Hooke. Mr Walker has a background in investment banking at chief executive level and has extensive business experience in New Zealand. Mr Hooke is a former Chief Financial Officer of a publicly listed food company and has broad experience in the Australian corporate environment. Mr Walker and Mr Hooke will stand for election by shareholders at the company's Annual General Meeting.

Outlook

The company is performing solidly in the first quarter of the new financial year and is well positioned to deliver further profit improvement for the 2007/08 year (compared with the normalised 2006/07 result).

*****

The FY 2006 results presented in this statement have been prepared on a pro forma basis so as to include a full 12 month performance. The pro forma numbers have not been audited. They have also been re-segmented to align the divisional results with the FY 2007 organisation structure. Divisional results have been normalised to exclude the impact of significant and one-time items.

Fisher & Paykel Appliances Holdings Limited
FPA Stock Exchange Release ASX/NZX 15 August 2007

Electronics Factory Relocation to Thailand for Fisher & Paykel Appliances

Fisher & Paykel Appliances (FPA) today announced plans to relocate its Auckland based Electronics factory operation to Thailand.  Production facilities for the manufacture of electronic circuit boards for use in Fisher & Paykel built appliances would be located in Rayong, Thailand on the same site as the proposed new Laundry plant.

After consultation with the Engineering, Printing & Manufacturing Union, the relocation of the facility will be completed by December 2008. Additional inventory will be manufactured in order to cover the lead times for the transfer and re-commissioning of the plant. This will amount to an additional temporary working capital value of between $2 and $3 million. Required capital expenditure is estimated at $3 million.

Once the line is fully operational, the expected financial benefits are in the vicinity of $6 million per annum, at a one-off cost in the order of $5 million, both at a pre-tax level. From the initial indications regarding the sourcing of local components for the Laundry factory, additional cost savings are also expected to arise from the sourcing of electronic components from local vendors in Thailand.

"In recent times it has become obvious that the future of Electronics lay with being located close to its major customer, Laundry" said John Bongard, Chief Executive Officer and Managing Director. "With the experience we have gained in the short time we have been in Thailand we are confident that these ongoing savings will be quickly realised."

The relocation will lead to an estimated reduction in the Auckland based work force of approximately 96 positions. As is the case with the Laundry announcement, the Company will endeavour to relocate as many staff as possible to other areas of the existing business as vacancies arise over the next 16 months.  Plant and equipment is expected to be shifted during the 2008 calendar year and will be housed in an 1800 sq metre air-conditioned building adjacent to the office complex on the Rayong site. Progress on the Thailand Laundry facility was celebrated with a ground turning ceremony last week and currently plans are on track for production to commence in March 2008.

Contacts:
John Bongard or Paul Brockett
Fisher & Paykel Appliances Holdings Limited
Phone +64 9 273 0600

Name of Listed Issuer: Fletcher Building Limited
For Year Ended: 30 June 2007

This report has been prepared in a manner which complies with generally accepted accounting practice and gives a true and fair view of the matters to which the report relates and is based on audited accounts.  The amounts as presented have been prepared in a manner which complies with New Zealand accounting standards which comply with International Financial Reporting Standards (IFRS).

CONSOLIDATED OPERATING STATEMENT FOR THE YEAR ENDED 30 JUNE 2007

Audited

Current Year NZ$'M; Up/Down %; Previous Corresponding Year NZ$'M

Total operating revenue: $5,926m; up 7%; $5,520m.

OPERATING SURPLUS BEFORE UNUSUAL ITEMS AND TAX: $611m; up 4%; $587m.
Unusual items for separate disclosure: 5; n/a; 0

OPERATING SURPLUS BEFORE TAX: $616m; up 5%; $587m.

Less tax on operating profit: $113m; down 40%; $189m.
OPERATING SURPLUS AFTER TAX BUT BEFORE MINORITY INTERESTS: $503m; up 26%; $398m.
Less minority interests: $19m; no change: $19m.
OPERATING SURPLUS AFTER TAX ATTRIBUTABLE TO MEMBERS OF LISTED ISSUER: $484m; up 28%; $379m.
Extraordinary items after tax attributable to Members of the Listed Issuer: 0: n/a: 0.
OPERATING SURPLUS (DEFICIT) AND EXTRAORDINARY ITEMS AFTER TAX ATTRIBUTABLE TO MEMBERS OF THE LISTED ISSUER: $484m; up 28%; $379m.

Earnings per share: 101.9 cps; up 25%: 81.3 cps
Final Dividend: 23 cps
Record date: 21 September 2007
Date Payable: 11 October 2007

Tax credits on latest dividend: 100% for New Zealand comprising through the attachment of imputation credits, and fully franked for Australian tax purposes.
Refer attached press release for further detail.

2007 ANNUAL RESULTS SUMMARY

Auckland, 8 August 2007 - Fletcher Building today announced record results for the year ended 30 June 2007. Net profit after tax and minority interests was $484 million, compared to $379 million in the previous year. The increase of $105 million includes the $70 million one-off taxation benefit previously advised to the market.

Operating earnings (earnings before interest and tax) were $703 million, including a net $5 million of unusual items, and an increase on the $675 million of operating earnings in the previous year, which had no unusual items. The increase of 4 percent on the 2006 year reflected some benefits from acquisitions, ongoing productivity improvements and the unusual items, with some offset due to more difficult market conditions.

The lift in earnings has enabled the eleventh consecutive dividend increase, with a final dividend of 23 cents per share, with full New Zealand and Australian tax credits. The total dividend for the year increased from 40 cents to 45 cents per share. Total shareholder return for the 12 months ended 30 June 2007 was 42 percent.

Divisional results (excluding unusuals) reflected the mixed operating environment, with increases in three divisions more than offsetting the decreases in the other two. Infrastructure's operating earnings were $271 million (previously $255 million), Distribution's $80 million (previously $75 million) and Laminates & Panels' $131 million (previously $116 million). Operating earnings from Building Products were $141 million (previously $142 million), and Steel $80 million (previously $93 million).

Chief Executive Officer, Jonathan Ling said the increase in operating earnings in a softer trading environment provided further validation of the group's strategy to build earnings reliability. "The balance of exposures between different geographical regions and market sectors is serving us well. All our divisions have performed well in the market conditions applying to them. At the same time we have been successful in further implementing our strategic objective to internationalise the company and provide a wider range of growth options, following the recent acquisition of Formica Corporation".

Results highlights
- Operating earnings up 4 percent to $703 million.
- Group net earnings, including unusual items, up 28 percent to $484 million.
- Group net earnings, excluding unusual items, up 5 percent to $399 million.
- Final dividend of 23 cents per share with full New Zealand and Australian tax credits for a total dividend for the year of 45 cents per share.
- Cashflow from operations was $483 million.
- Interest cover at 9.8 times.
- Basic earnings per share were 101.9 cents and 84.0 cents on a normalised basis, both up from the 81.3 cents in the previous year.

Contacts
Jonathan Ling Bill Roest
Chief Executive Officer Chief Financial Officer
Ph: +64 9 525 9169 Ph +64 9 525 9165

HALLENSTEIN GLASSON HOLDINGS LIMITED
For HALF year to 1/2/2007
This report has been prepared in a manner which complies with generally accepted accounting practice and gives a true and fair view of the matters to which the report relates and is based on unaudited financial statements.
CONSOLIDATED OPERATING STATEMENT

Current Half Year NZ$'000;Up/Down %;Previous Corresponding Half Year NZ$'000
Trading Revenue $100,721 up 0.6% $100,173
Other Revenue $956 down -20.4% $1,202

Total Operating Revenue $101,677 up 0.3% $101,374
Operating Surplus before unusual items and tax
$14,879 down -8.6% $16,281
Less tax on operating result $4,910 down -8.7%% $5,378
NET SURPLUS FOR THE PERIOD $9,969 down -8.6% 10,903

Earnings per share 16.7 cps down -8.9% 18.4 cps
Interim Dividend 17cps
Record Date 13/04/2007
Payment Date 20/04/2007
Imputation credit on latest dividend 8.3731 cps

Announcement Commentary
Results for 6 Month period ended 1 February 2007.

Directors announce that the unaudited Net Profit after Tax for the 6 months ended 1 February 2007 was $9.969 million ($10.903 million), a decrease of -8.6%.
Total sales for the period were $100.721 million ($100.173 million), an increase of 0.6%.
This result confirms the profit guidance released to the NZX on 22nd January 2007.

The result reflects a particularly challenging summer season for apparel in both New Zealand and Australia due to a cooler than usual summer, with more favorable weather only commencing at the very end of the season.

Sales in New Zealand were $85.904 million, a decrease of -1.1%, although on a same store basis, sales declined -7.0%. In Australia sales increased 4.0% (in Australian dollars), and same store sales were also -7.0%.

During the period a total of 3 stores were opened in New Zealand, with Glassons opening in Whangarei and both Glassons and Hallensteins opening in Sylvia Park (Auckland). Since balance date Glassons have opened a further store in Queenstown. Initial trading results in both Whangarei and Queenstown have been very positive.
In Australia one new store was opened in Spencer Street Melbourne.
This takes total store numbers for the group to 109:

Glassons (NZ) 35
Glassons (Aus) 24
Hallensteins 47
Storm 3

During the period under review the company continued to improve gross margin on sales, but pressure on costs saw net profit on sales decline from 10.9% last year to 9.9% this year. In particular rents and staff costs have been a constant challenge, with competition for good staff and additional costs in providing for 4 weeks holiday putting upwards pressure on costs.

Current Trading
Total group sales for the first 7 weeks of the winter season have been marginally below last year at -1%, although this period is low volume compared with the key winter months of May and June.
The Australian stores have experienced a more positive start to the season than in New Zealand, although it is too early in the season to draw any conclusions from these results.

Dividend
The Directors have declared an interim dividend of 17 cents per share (fully imputed), unchanged from the interim dividend last year. The full year dividend will continue to reflect the board's policy of maintaining approximately 95% payout of profits, subject to current trading conditions and capital requirements.
The interim dividend will be paid on April 20, 2007 to shareholders on the register at close on business April 13, 2007. In addition, a supplementary dividend of 3 cents per share will be payable to shareholders not resident in New Zealand for tax purposes.