Fonterra H1 Net Profit Drops 53%

New Zealand's Fonterra Co-Operative Group reported a drop in its first-half net profit. Fonterra's net profit for the period fell 53% to 217 million New Zealand dollars (US$186 million). Its normalized earnings before interest and tax tumbled 41% to NZ$403 million, while revenue gained 21% to NZ$11.3 billion.