UPDATE: Fonterra FY gross margin shrinks on higher milk payment; volumes, profit fall

Sun, 24 Sep 2017

(Adds details of divisional results, China Farms and Beingmate) By Jonathan Underhill Sept. 25 (BusinessDesk) - Fonterra Cooperative Group's full-year gross margin dropped about 4 percentage points as the dairy company paid more for milk, while rising prices offset a decline in volumes. The changing mix didn't alter Fonterra's forecast payout. Fonterra's gross margin fell to 17 percent in the year ended July 31 from 21.1 percent a year earlier, the Auckland-based company said. Normalised earnings before interest and tax dropped 15 per...

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