Danone Nutricia, the French-owned infant formula maker, has reported a full-year loss which it is attributing to ongoing fallout from the Fonterra Cooperative Group's botulism scare in 2013.
The New Zealand subsidiary of the French food giant posted a loss of $1.19 million for 2014, compared to a profit of $1.99 million a year earlier. Danone Nutricia ended its supply contract with Fonterra and launched a $1 billion lawsuit against the dairy cooperative last year. That followed its sales being disrupted in August 2013 when it had to recall 67,000 cans of its Karicare infant formula in New Zealand triggered by Fonterra’s milk powder contamination warning.
$1.19M LOSS FOR DANONE NUTRICIA
