By Reuters Staff
2 Min Read
Fonterra's Anchor brand milk powder packets are seen on shelves at a shop in Colombo August 21, 2013. A Sri Lankan court on Wednesday issued a summons to Fonterra Brands Lanka, the local company of New Zealand's Fonterra and four of its top officials to face contempt of court charges for not adhering to an earlier ruling that banned sales and advertising of all Fonterra milk products.
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MILK ROUND. New Zealand’s Fonterra is finally delivering the goods. Chief Executive Miles Hurrell says the dairy giant’s 2019 strategy overhaul, which aimed to focus on its core business, is yielding results. Management does deserve credit: Adjusted profit for the six months to the end of December rose 43% to NZ$418 million ($300 million). However, shareholders also owe a debt of gratitude to thirsty consumers in the People’s Republic.