Investing
New Zealand’s Fonterra posts 50% jump in half-year profit
© Reuters. FILE PHOTO: The Fonterra logo is seen near the Fonterra Te Rapa plant near Hamilton August 6, 2013. REUTERS/Nigel Marple/File Photo/File Photo
(Reuters) – New Zealand’s Fonterra Co-operative Group Ltd on Thursday said first-half profit jumped 50% due to higher prices for its dairy products and strong margins across its protein division.
The world’s biggest dairy exporter reported normalised net profit after tax of NZ$546 million ($338.19 million) for the six months ended Dec. 31, compared with NZ$364 million a year earlier.
Fonterra declared an interim dividend of 10 NZ cents per share, compared with 5 NZ cents per share declared last year.
($1 = 1.6145 New Zealand dollars)
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