WELLINGTON, New Zealand (AP) - New Zealand's Fonterra Cooperative Group, the world's biggest dairy trader, announced a 7.6 percent slide in revenues on Tuesday for the half year, but assured farmer shareholders its annual payout level for their milk will remain unchanged.
Unadjusted revenue for the six months to Jan. 31 was up 9.6 percent to 8 billion New Zealand dollars ($4.6 billion), but operating expenses were up 13 percent, the company said in a statement.
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