Fonterra first-half results show ingredients offset gains from higher value products

Wed, 22 Mar 2017

By Jonathan Underhill March 22 (BusinessDesk) - Fonterra Cooperative Group lifted first-half earnings from its consumer and food service businesses by shifting volumes into higher-value products but the gains were more than offset by a decline in earnings from its ingredients platform, where increased sales came with a drop in gross margin. Ingredients are the core of Fonterra's business and include milk powders, nutritional products used in infant formula, butter, cheese and specialty dairy ingredients sold around the world. In the first...

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