date:Mar 27, 2014
which it said it would raise through borrowings.
On Wednesday, the company announced that normalised earnings before interest and taxes (EBIT) fell to NZ$403 million ($345 million) for the first half, while net profit after tax fell 53 percent to NZ$217 million.
The company cut its interim dividend to 5 NZ cents per share, and reaffirmed that it expected to pay a full-year dividend of 10 NZ cents per share, down from 32 NZ cents last year.
In December, Fonterra warned that it expected full-y