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New Zealand dairy group Fonterra reports 11 pct fall in full-year profit
September 24, 2017 / 8:00 PM / a month ago

New Zealand dairy group Fonterra reports 11 pct fall in full-year profit

Sept 25 (Reuters) - New Zealand’s dairy group Fonterra on Monday reported a 11 percent fall in full-year net profit after tax as milk volumes took a hit, impacted by unfavourable weather conditions.

The world’s largest exporter of dairy products reported net profit after tax of NZ$745 million ($545.86 million) for the twelve months ended July 31, compared with NZ$834 million the previous year. Full-year revenue rose to NZ$19.23 billion against NZ$17.20 billion a year ago.

The company announced a full-year dividend of NZ$0.40 per share, unchanged from the previous year.

The company maintained its earnings per share outlook for the 2018 year of NZ$0.45-NZ$0.55 per share as declared in March.

$1 = 1.3648 New Zealand dollars Reporting by Susan Mathew in Bengaluru. Editing by Jane Merriman

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