Fonterra posts 50% jump in half-year profit
Higher prices, strong margins boosted profits
16 March 2023
1 minute read
By: New Zealand's Fonterra Co-operative Group Ltd on Thursday said first-half profit jumped 50% due to higher prices for its dairy products and strong margins across its protein division, Reuters reported.
The world's biggest dairy exporter reported normalised net profit after tax of NZ$546 million ($338.19 million) for the six months ended Dec. 31, compared with NZ$364 million a year earlier.
Fonterra declared an interim dividend of 10 NZ cents per share, compared with 5 NZ cents per share declared last year.
