Nutricia NZ profit slides 97% in 2013 year disrupted by Fonterra recall

Thu, 12 Jun 2014

By Suze Metherell June 12 (BusinessDesk) - Nutricia, the New Zealand infant formula unit of French food maker Danone, posted a 97 percent drop in profit in 2013, a year that saw sales disrupted by Fonterra Cooperative Group's false alarm botulism scare last August. Profit fell to $1.99 million in the year ended Dec. 31, from $61.1 million a year earlier, according to the company's financial statements lodged with the Companies Office. Sales fell 15 percent to $318.2 million while cost of sales rose 8.1 percent to $265 million. Globally, D...

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