date:Aug 13, 2019
verse accumulated foreign currency translation reserve. This follows as a result of the previously announced sale of the companys Venezuelan consumer business, and the closing of its small Venezuelan Ingredients business, due to the countrys economic and political instability.
Fonterras carrying value for China Farms will be impaired by approximately NZ$200 million (US$129 million) due to the slower than expected operating performance. The fresh milk category in China continues to look promisin