Dairy giant profits rise 30%

Dairy cooperative FrieslandCampina booked a 30% rise in net profit over the first six months of this year.

But turnover was down 15% at €4.1bn, due to both lower prices and volumes, the company said in a statement. Net profit was up at €78m because of cost savings and higher income from financial participations, FrieslandCampina said.
The two companies finally merged in December last year to create one of the world’s biggest dairy cooperatives.
CEO Cees ‘t Hart told news agency Novum his biggest concern in the dairy sector is the low milk price being paid to the cooperative’s farmers. Farmers are currently getting €26.04 for a 100 kgs of milk, some 32% less than a year ago, Novum said.

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