Fonterra Shareholders’ Fund
(ASX:FSF) has reported a jump in net profit to NZ$409 million in the six months ended 31 January 2016, a leap of 123 percent.
Revenue grew 473 percent to NZ$138 million from a loss of NZ$37 million a year earlier.
The milk exporter reported EBITDA of $655 million, an increase of 77 percent.
Chairman John Wilson said the supply and demand imbalance in the dairy market has brought prices down to unsustainable levels, stating that the low prices have placed a great deal of pressure on incomes, farm budgets and farming families.
Fonterra announced an interim dividend of 20 cents.
