Fonterra reports FY revenue of $26b, up 15% on year

Fonterra reports FY revenue of $26b, up 15% on year
(Image: NZME)
Rebecca Howard
Fonterra Co-operative Group generated $26.4 billion in revenue in the year to July 31, up 15% on the year.  “This result was driven by higher operating profit in the Ingredients business, due to demand for our protein portfolio and our use of margin hedging tools and index-based pricing,” Fonterra's chief executive, Miles Hurrell, said.Total Group reported an operating profit of $1.7b, up from $1.5b the previous year.Reported profit after tax was $1.1b, equivalent to earnings per share of 65 cents.This was down slightl...

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