26-09-2012 09:29 AM | Australia

Dairy giant faces fierce competition in Australia

Fonterra will cut costs by $60 million this year, including from its struggling Australian business.

The dairy giant's annual result, released today, says there was a 20% drop in earnings across its Australia/New Zealand business mainly reflects fierce competition across the Tasman for sales of branded consumer products such as yoghurt and cheese.
Full Story : National Business Review