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NZ's Fonterra half-year profit jumps 43% on higher global dairy prices

NZ's Fonterra half-year profit jumps 43% on higher global dairy prices

· 03/16/2021 15:40
NZ's Fonterra half-year profit jumps 43% on higher global dairy prices

- New Zealand's dairy exporter Fonterra FCG.NZ on Wednesday posted a 43% rise in adjusted profit, helped by stronger global dairy prices and higher demand for its products as easing of pandemic-related restrictions has boosted economic recovery.

The company posted a normalised profit after tax of NZ$418 million for the six months ended Jan. 31, up from NZ$293 million ($212.92 million) a year earlier.

It also announced an interim dividend of 5 cents per share.


($1 = 1.3761 New Zealand dollars)


(Reporting by Soumyajit Saha in Bengaluru; Editing by Shinjini Ganguli)