Still on the hunt for a new owner, Fonterra's Australian business has just recorded an 84pc hike in earnings for the six months to January 31 compared to the same period the year before and says surveys show it has rebuilt trust with farmers.
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PROFITS SOAR: Fonterra Australia managing director René Dedoncker.

Gross profits were up 33 per cent, with revenue 2pc higher while cost of goods sold fell 2pc.

Australians are being warned of another price hike, with the cost of milk set to go up.

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