FIRST CUT: Fonterra swings to annual loss on Beingmate, Danone

Wed, 12 Sep 2018

By Rebecca Howard Sept. 13 (BusinessDesk) - Fonterra Cooperative Group posted an annual loss after writing down the value of its Beingmate Baby & Child Food investment and settling with Danone but says it's taking steps to improve the business. The dairy giant reported a loss attributable to shareholders of $221 million in the year to July 31 versus a profit of $734 million in the prior year. Normalised earnings before interest and tax dropped 22 percent to $902 million and Fonterra said its return on capital was 6.3 percent, down from 8...

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