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Fonterra’s half year profit is up 23 percent, and its interim dividend is up 50 percent, as it sells more processed product at a higher profit margin.
But it’s keeping the forecast milk payout midpoint unchanged at $7.80, following a recent drop in global raw product prices.
Fonterra Chief Executive Miles Hurrell says China is still a growth opportunity, but it’s only part of their diversified global strategy.
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