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Fonterra half-year profits fall 13%

17 March 2022

The dairy exporter posted NZ$364 million in profits after tax

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


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