Fonterra returns to the black with a skinny $76m first-half profit

Tue, 19 Mar 2019

By Jenny Ruth March 20 (BusinessDesk) - Fonterra Co-operative Group has reported a $76 million first-half net profit. Newly confirmed chief executive Miles Hurrell says it’s good to be back in the black but performance is not where it should be. Fonterra’s net profit attributable to shareholders for the six months ended Jan. 31 compares with a $354 million loss in the same six months a year earlier. Normalised earnings before interest and tax fell 29 percent to $323 million. While sales volumes rose 2 percent, revenue fell 1 percent to...

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