Fonterra Co-operative First-Quarter Profit Report

(Reuters) – Fonterra Co-operative reported a drop in its first-quarter profit after tax on Thursday, citing impacts from lower sales volume and higher milk prices.

The New Zealand dairy firm reported a profit after tax of NZ$263 million ($154.12 million) for the quarter, down from NZ$346 million last year.

> Note: ($1 = 1.7065 New Zealand dollars)