AUSTRALIA: Dairy Farmers posts disastrous plummet in profits
Australia's Dairy Farmers Co-operative has posted a disastrous 97% plummet in full year profit after tax and outside equity interests to A$773,000 (US$385,310), caused by the deregulation of the dairy industry and spiralling milk prices. In the same year period, to 30 June 2001, sales also dropped to A$1.2bn from A$1.3bn.
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