March 17, 2020 / 7:51 PM / 13 days ago

New Zealand's Fonterra reports jump in half-year profit

March 18 (Reuters) - Fonterra , the world’s biggest dairy exporter, reported a sizable jump in adjusted profit on Wednesday, as it slashed debt and shifted its operational focus back to its home market in New Zealand.

The company posted a normalised net profit after tax of NZ$293 million ($173.98 million) for the six months ended Jan. 31, up from NZ$72 million a year earlier.

$1 = 1.6841 New Zealand dollars Reporting by Anushka Trivedi AND Nikhil Kurian Nainan in Bengaluru; Editing by Arun Koyyur

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