EU – Danish cooperative Arla has seen profits slide around 20 per cent in the first half of 2015.
Arla announced profits for the first half of 2015 of €122 million, around a 20 per cent drop on the €150 million in the same period last year.
The performance can be attributed to the global dairy price crash, which has forced Arla to slash its investments by 30 per cent.
In its interim report, Arla’s cash flow had plummeted to -€261 in 2015 after 2014’s half year cash flow of €31 million. This continued decreasing from the end of year cashflow figure of €2 million.
One of Arla’s key global brands - Costello - was shown to have contracted one per cent over the same period, while fortunes fared better for the two other key brands, Lurpak and Arla.
TheCattleSite News Desk