Fonterra facing fierce competition in Australian branded consumer product markets

Wed, 26 Sep 2012

Sept. 26 (BusinessDesk) - Fonterra Cooperative Group's 20 percent drop in earnings across its Australia New Zealand business mainly reflects fierce competition across the Tasman for sales of branded consumer products such as yoghurt and cheese. The world’s largest exporter of dairy products, posted normalised earnings before net finance costs and tax in the ANZ division $204 million in the 12 months ended July 31, down from $256 million the previous year, as sales fell to $3.1 billion from $3.5 billion. Volume fell 4 percent after adjusting f...

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