Problems across the ditch mean Fonterra isn't doing as well as it should
Problems across the ditch mean Fonterra isn't doing as well as it should
20 March 2019
The dairy giant has announced a net profit after tax of 80-million dollars.
Fonterra CFO Marc Rivers says it's good to see the Co-operative back in the black, but earnings are not where they should be.
He says the Australia business had a very challenging first half, with gross margins down from 50 to eight million dollars.
Rivers says this reflected lower milk collections, given the severe drought conditions, and the aggressive price competition.
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