Fonterra target company Beingmate’s profit sinks
Fonterra pays more for Beingmate while profits slump by 90%.
Chinese dairy company Beingmate [CH:2570], in which Fonterra [NZX:FCG] is buying a $780 million stake, has reported a 91% fall in net profit on falling revenue and increasing costs.
Beingmate’s operating income fell 17.24% in financial year 2014 to 506.3 million yuan ($107.5 million), according to
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Duncan Bridgeman
Tue, 03 Mar 2015
Tue, 03 Mar 2015
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Fonterra target company Beingmate’s profit sinks
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