Dutch dairy giant FrieslandCampina profits from low milk price

FrieslandCampinaDutch dairy giant FrieslandCampina saw a rise in profit of 85% in the first half of 2015, the company said on Thursday.

Profit reached €192m in the period, compared with €104m in the year earlier period.

Turnover remained stable at €5.6bn.

The company puts the increase in profit down to the low price of milk and the increased demand for baby food in Asia.

FrieslandCampina paid €36.48 for 100 kilo of milk in the first six months of this year, a fall of 17%. The price dropped further in August to €28.50.

The 14,000 Dutch dairy farmers will share in the profit, the company said. They will each receive an average dividend of €8,000 in September.

Despite the positive result, the company will still cut 375 jobs at its operations in Beilen and Leeuwarden.

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