Fonterra leery of virus impact as China demand recovers

Wed, 18 Mar 2020

Dairy demand in China is recovering but Fonterra Cooperative Group is not paying an interim dividend while it assesses the potential impact of coronavirus in key Asia-Pacific markets.The four-fold increase in first-half normalised profit reported today was a "stellar" result and the company had already locked in earnings of 18 cents a share, chief financial officer Marc Rivers told BusinessDesk.The pandemic had barely any impact in the first half, but “it will play out in the second half, particularly in Q3," he said. The issue for the company...

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