FrieslandCampina sees revenue, profit rise for half year6 Sep 2017
FrieslandCampina has reported a rise in revenue for the first half of 2017 of 10.7% to €6.1 billion. Operating profit rose by 7.8% to €275 million.
FrieslandCampina has reported a rise in revenue for the first half of 2017 of 10.7% to €6.1 billion.Operating profit rose by 7.8% to €275 million primarily due to the strong recovery of cheese and butter sales prices. Profit rose by 1.3% to €162 million. The total compensation paid to member dairy farmers increased by 24.1% to €2.1 billion, while the pro forma milk price paid to member dairy farmers increased by 26.9% to €38.37 per 100 kilos of milk“The milk price for member dairy farmers recovered this year after a number of disappointing years,” said Roelof Joosten, CEO of Royal FrieslandCampina. “The higher sales prices for primarily butter and cheese lie at the root of this recovery. In West Europe we were successful in passing on the higher guaranteed price in the sales prices. This is reflected in the increased revenue. The total compensation paid to member dairy farmers increased by 24% in comparison to the first half year of 2016. High growth levels were realised in Indonesia and Vietnam, and with cheese and butter. In Germany, the Philippines and Nigeria, result trends are not as positive due to local market conditions and negative currency translation effects, the latter particularly in Nigeria.”
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