Fonterra more than doubles full-year profit

The NZ company declared a higher final dividend
calendar icon 22 September 2023
clock icon 1 minute read

New Zealand's Fonterra reported an annual profit on Thursday that more than doubled and declared a higher final dividend, helped by strong margins from its cheese and protein portfolio, Reuters reported.

The world's biggest dairy exporter posted normalised profit after tax of NZ$1.33 billion ($788.3 million) for the year ended July 31, compared with NZ$591 million a year earlier.

Fonterra declared a final dividend of 40 NZ cents per share, compared with 15 NZ cents declared last year.

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