Fonterra lifts first-half profit 50% on fatter margins

Fonterra lifts first-half profit 50% on fatter margins
Fonterra bounced back in the first half (Image: Fonterra)
Rebecca Howard
Fonterra Co-operative Group lifted first-half net profit 50% and raised its annual earnings guidance as it enjoyed fatter margins for high-value products.The co-op also proposed a tax-free capital return to farmer owners and shareholders' fund unit holders of about 50 cents per share, subject to completing the sale of its Chilean Soprole business. Net profit was $546 million in the six months to Jan 31, up from $364m a year earlier, while earnings per share were 33 cents, up from 22 cents in the prior period. That was due to wider margins f...

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