Fonterra Shareholders Fund
(ASX:FSF) has turned around its first half performance to post a net profit after tax of $506 million after a strong focus on cash and costs.
The result was up 183 per cent on the 2014 financial year despite a 15 per cent dip in revenue.
Normalised earnings in the second half doubled on the back of growth in consumer and food service business and a major push in the ingredients business to help off-set lower milk prices.
The Co-operative will pay a final cash payout of $4.65 per share backed farmer and a dividend of 25 cents per share.
Fonterra expects the lift in profitability to carry through into the current financial year.
