Fonterra has reported a strong start to the 2024-25 financial year, with a profit after tax of $263 million in the first quarter.
This was equivalent to earnings per share of 16 cents.
The co-operative's revised strategy, which focuses on its high-performing ingredients and foodservice businesses, was released during the quarter.
Fonterra announced investments of $75m to increase production capacity for high-value protein ingredients at its Studholme manufacturing site and $150m in a new UHT cream plant at its Edendale site.
The divestment of its global consumer business and integrated businesses, Fonterra Oceania and Sri Lanka, is also underway.
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