date:Sep 27, 2012
uch higher volumes of milk they produced.
The aggressive Australian market has also been pinpointed as a factor in the firms profits decrease.
Fonterras Australia New Zealand (ANZ) division reported a 20% decline in adjusted earnings for the 2012 season, hitting NZ$204m.
Normalised earnings were up slightly in New Zealand; however, the trading environment in Australia remains challenging with a continued downturn in consumer spending and aggressive competition, said Fonterras results statemen