Rising milk price helps push Open Country annual revenue above $1B

Thu, 01 Feb 2018

By Jonathan Underhill Feb. 2 (BusinessDesk) - Open Country Dairy, New Zealand's second-largest milk processor, generated more than $1 billion of revenue last year but payments for milk rose faster than receipts from customers and profit fell. Profit was $23 million in the year ended Sept. 30 from about $62 million a year earlier, its accounts show. Sales rose 34 percent to $1.1 billion while cost of sales gained about 44 percent. Open Country didn't disclose volume figures in its public annual accounts but chair Laurie Margrain said it...

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