Fonterra half-year profits fall 13%
The dairy exporter posted NZ$364 million in profits after tax
17 March 2022
1 minute read
Dairy giant Fonterra Co-operative Group Ltd on Thursday reported a 13% fall in half-year profit as significantly higher input costs squeezed its margins, while a weak milk collection in New Zealand impacted sales volumes, reported Reuters.
The Auckland-based dairy exporter posted an underlying profit after tax of NZ$364 million ($248.36 million) for the six months ended 31 January, compared with NZ$418 million last year.
Source: Reuters
