FREEDOM FOODS GROUP LIMITED (FNP)



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General Information
Company Name: Freedom Foods Group Limited
Stock Code: FNP
Website: www.fnpl.com.au
GICS Sub-Industry: Packaged Foods & Meats
Market Cap ($M): 169
Equiv. Shares (M): 114

Current Price Data+
Current Price Open High Low Last Close Volume Price Movement
 $ 1.490 $ 1.500 $ 1.505 $ 1.480 $ 1.510 566,148 $ -0.020  -1.325 %

Current Broker Consensus Recommendation more
Recommendation: Buy
Recommendation Date: 5th Mar 2013
12 Month Target Price (average): $1.1
Brokers Surveyed: 1

Company Overview

Business Description:
Freedom Foods Group Limited (FNP, formerly Freedom Nutritional Products Limited) is a diversified food company operating in the Health and Wellness sector through a range of brand including Freedom Foods, a2 milk, So Natural, Australia's Own, Paramount and Brunswick.


Financial Summary
Year to Jun NPAT EPS EPS chg (%) PER DPS Yield (%) Franking (%)
2012  A 2.6 3.2 6.7 14.5 1.0 2.2 100.0
2011  A 2.6 3.0 -40.0 10.1 1.0 3.4 100.0
2010  A 3.4 5.0 117.4 6.6 0.0 0.0 --
Source: Aspect actuals / Thomson IBES estimates

Peer Comparison
EPS Growth (%) P/E (%) Dividend Yield (%)
Company Mkt Cap 2010 A 2011 F 2012 F 2010 A 2011 F 2012 F 2010 A 2011 F 2012 F
Australian Agricultural Co (AAC) $337 M -- -- 0.3824 -- 15.5123 11.2213 0.0000 0.0092 0.0466
Freedom Foods Group (FNP) $172 M 0.0709 -- -- 47.6341 -- -- 0.0066 -- --
Goodman Fielder (GFF) $1,428 M -0.2573 -0.2077 0.3379 13.2969 16.7816 12.5430 0.0000 0.0274 0.0463

Market Comparison
Earnings P/E Ratio P/B Ratio P/E Growth P/S Ratio
FNP 1.21 47.0 2.79 -- 2.09
Market 1.08 13.3 0.91 2.59 2.57
Sector 0.60 15.1 0.86 5.55 0.77

Directors
Name Position Start Date
Mr Michael Perich Alternate Director 26 March 2009
Mr Rory Macleod Managing Director,Company Secretary 07 May 2008
Mr Perry R Gunner Non-Executive Chairman 30 April 2003
Mr Geoffrey Babidge Non-Executive Director 30 January 2002
Mr Ronald Perich Non-Executive Director 20 April 2005
Mr Anthony(Tony) Mark Perich Non-Executive Director 28 July 2006
Mr Melvyn Miles Non-Executive Director 30 November 2006

Management
Name Position
Michael Bracka CEO Freedom Brands
Amine Haddad CEO Pactum Australia
Peter Brown Executive General Manager Sales, Freedom Brands
Peter Bartier National Supply Chain Manager, Freedom Brands
Mark Gauci Operations Manager, Pactum Australia

Substantial Shareholders
Holding Name
51,620,094 (66.18%) Arrovest Pty Limited and Perich Group
12,729,144 (16.32%) Telunapa Pty Ltd

Calendar of Events
Date Event
03 March 2014 Report (Interim)
27 February 2014 Report (Interim)
27 September 2013 Report (Annual)
30 August 2013 Report (Prelim)
31 May 2013 Div Pay Date
© 2011 Morningstar, Inc. All rights reserved. The data and content contained herein are not guaranteed to be accurate, complete or timely. Neither Morningstar, nor its affiliates nor their content providers will have any liability for use or distribution of any of this information. To the extent that any of the content above constitutes advice, it is general advice that has been prepared by Morningstar Australasia Pty Ltd ABN: 95 090 665 544, AFSL: 240892 (a subsidiary of Morningstar, Inc.), without reference to your objectives, financial situation or needs. Before acting on any advice, you should consider the appropriateness of the advice and we recommend you obtain financial, legal and taxation advice before making any financial investment decision. If applicable investors should obtain the relevant product disclosure statement and consider it before making any decision to invest. Some material is copyright and published under licence from ASX Operations Pty Limited ACN 004 523 782 ("ASXO"). DISCLOSURE: Employees may have an interest in the securities discussed in this report. Please refer to our Financial Services Guide (FSG) for more information at www.morningstar.com.au/fsg.asp.

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