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Profits dive at Dairy Farmers co-op
18 Mar 2005
Farmer members of the Dairy Farmers Co-op approved plans to split the cooperative into separate milk supply and processing co-ops, as the first step in a two-year plan to incorporate and pursue public listing. Any listing, however, is now not likely until 2007, in part due to a plunge in profits for the co-op. Dairy Farmers said sales in the December 2004 half year were flat at $618 million, earnings before interest and tax fell by 25 per cent to $38 million and net profit fell from $15 million to only $1 million.
Financial Review, 18/03/05
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