UPDATE: Fonterra takes $405M Beingmate charge, raises forecast milk payout

Tue, 20 Mar 2018

(Adds analyst comment, updates Shareholders' Fund unit price) By Jonathan Underhill and Nikki Mandow March 21 (BusinessDesk) - Fonterra Cooperative Group wrote down the value of its Beingmate Baby & Child Food investment by $405 million, calling the performance of its Chinese partner "unacceptable". The writedown and a $183 million settlement with Danone led to a first-half loss. The net loss was $348 million in the six months ended Jan. 31 from a profit of $418 million a year earlier, the Auckland-based company said. Sales climbed 6...

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