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Fonterra revenues down, but profits up 18%
date:Sep 26, 2013
half.

Although the New Zealand consumer business grew its earnings in a tough trading environment, Australia faced heightened competition for lower milk volumes, and continuing margin squeeze for consumer brands. We expect the significant reshaping of our Australian operations, which is going to plan, will turn performance around. The business has already achieved a 7% reduction in operating expenses of $49 million (after excluding the impact of the closure of the Cororooke site and Brand impa

12/21 14:54