Fonterra Expects China Demand for Protein to Underpin Profit

(Bloomberg) — Fonterra Cooperative Group Ltd. expects demand for protein products to stay strong through the second half of its financial year, particularly as the China consumers renew their appetite for dairy, according to Judith Swales, chief executive of global markets.

Earlier Thursday, the world’s biggest dairy exporter reported a 50% jump in first-half net income and raised its full-year earnings outlook, saying demand for proteins such as casein and products used in medical nutrition have driven strong earnings.