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Dairy Farmers earnings up despite costs blowout
17 Jul 2008
Bidders for Dairy Farmers received the group''s unaudited accounts yesterday showing that Dairy Farmer''s earnings grew 23 per cent last year to more than $70 million. By contrast National Foods suffered a 30 per cent fall in profits for 2007 because of the rising cost of milk payouts and fuel prices. Despite Dairy Farmer''s costs rising by $200 million, the group shed 30 per cent of its workforce and underwent a corporate restructure to deliver the positive result. The numbers are expected to deliver a high sale price for the group.
The Australian Financial Review, 17/07/2008
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