Fonterra | Fonterra playing down China concerns, following 23 percent profit increase

The boss of Fonterra is playing down concerns about the Chinese market.

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.

“It’s less than 30 percent of our book. Their geopolitics at large are something we all need to be concerned about- but there’s still growth in that middle class, we’re riding that wave.”

You can now read the most important #news on #eDairyNews #Whatsapp channels!!!

🇺🇸 eDairy News INGLÊS: https://whatsapp.com/channel/0029VaKsjzGDTkJyIN6hcP1K

Look also

Record cheese shipments unable to carry March dairy exports

U.S. cheese export volumes hit a new monthly high during March.

You may be interested in

Inside the federal government’s tug-of-war with states on the bird flu outbreak

Record cheese shipments unable to carry March dairy exports

America’s top bird flu expert reveals why she’s worried

Topics |
Fonterra

Legal notice about Intellectual Property in digital contents. All information contained in these pages that is NOT owned by eDairy News and is NOT considered “public domain” by legal regulations, are registered trademarks of their respective owners and recognized by our company as such. The publication on the eDairy News website is made for the purpose of gathering information, respecting the rules contained in the Berne Convention for the Protection of Literary and Artistic Works; in Law 11.723 and other applicable rules. Any claim arising from the information contained in the eDairy News website shall be subject to the jurisdiction of the Ordinary Courts of the First Judicial District of the Province of Córdoba, Argentina, with seat in the City of Córdoba, excluding any other jurisdiction, including the Federal.