Westland Milk turns to annual profit amid cost-cutting drive

Wed, 27 Sep 2017

By Tina Morrison Sept. 28 (BusinessDesk) - Westland Milk Products, New Zealand's second-largest dairy cooperative, turned to an annual profit as it reduced costs, processed less milk and lifted payments to its farmer suppliers. Hokitika-based Westland turned to a profit of $1.5 million in the 12 months ended July 31, from a loss of $10.3 million a year earlier, it said in a statement. Revenue rose 7.1 percent to $629.7 million even as the amount of milk received from suppliers reduced by 6 percent to 699 million litres. Selling, distribut...

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