A retail price war in Australia and New Zealand hit Fonterra’s consumer sales hard in the first half of 2012, while the firm said a strategy refresh will see it refocus its efforts on lucrative Chinese, Asian and Latin American markets.
The chairman of New Zealand dairy cooperative Fonterra says its
farmer shareholders are not in danger of losing their controlling
stake of the company should a proposed restructuring and
public offering go ahead.
New Zealand dairy co-operative Fonterra sold almost a tenth more
milk-derived ingredients this year than the previous 12 months,
pushing its overall revenue up 6 per cent to NZ$13 billion
(€6.4bn), it reported yesterday.