New Zealand's Fonterra posts 50% jump in half-year profit

March 16, 2023 2:03 pm

[Source: Reuters]

New Zealand’s Fonterra Co-operative Group Ltd (FCG.NZ) on Thursday.

They said that the 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.

Article continues after advertisement

Fonterra declared an interim dividend of 10 NZ cents per share, compared with 5 NZ cents per share declared last year.