Government subsidies prop up Fonterra’s Chinese partner
But Beingmate founder surprisingly bullish on dairy prices.
Chinese infant formula company Beingmate, in which Fonterra [NZX: FCG] has an 18.8% stake, has reported a 10% fall in operating income for the 2015 financial year.
However, government subsidies of 124 million yuan pushed the company’s net profit up 50% to 104 million yuan ($NZ23.7 million),
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Duncan Bridgeman
Tue, 22 Mar 2016
Tue, 22 Mar 2016
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Government subsidies prop up Fonterra’s Chinese partner
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