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Results first half year 2016 published by FrieslandCampina
First half-year 2016: further decrease in milk price for member dairy farmers.
Lower profit FrieslandCampina due to losses on milk powder and cheese in spite of growth in infant nutrition and dairybased beverages.
The profit of Royal FrieslandCampina N.V. decreased by 16.7 percent over the first half-year 2016 to 160 million euros compared to the same period in the previous financial year. Due to the significant increase in the member dairy farmers’ milk production (+11.9 percent), basic dairy products such as milk powder, foil cheese and butter were produced that had to be sold below cost. Growth in volume was realised in infant nutrition in China and South-East Asia, dairy-based beverages in South-East Asia and Eastern Europe and ingredients, with improved results.