Sales fall at Fonterra; Arla makes moves in Africa; World Cheese Awards deadline nears
Fonterra’s Theo Spierings said improved second-half results were driven by a strong focus on cash and costs.
Fonterra Co-operative Group said net profit after tax rose 183% (to NZ$506 million) for the financial year ended 31 July 2015. Revenues fell 15% to NZ$18.8 billion as total sales volumes increased 9% to 4.3 million metric tons.
Chairman John Wilson said “extremely challenging trading conditions globally” had affected all parts of the co-operative’s business.