Adjusted earnings a share fell 7.6 percent to e2.78 (R42) last year, the
The biggest yoghurt maker said it expected this year would be marked by "sluggish" consumer demand in
"Organic growth in sales and operating margin will vary widely from one half to the next in 2014,"
Trading operating profit fell 5 percent to e2.81bn.
Like-for-like sales increased 2.9 percent in the fourth quarter, beating the median estimate of a 2.7 percent gain from a survey of 10 analysts.
The measure excludes items such as divestments and currency changes. For the year, like-for-like revenue gained 4.8 percent.
The forecasts were a bit "insipid" and the results looked "a shade light, but that isn't really a surprise given what is happening in its infant nutrition business",
The milk price was on average more than 10 percent higher last year than in 2012, chief financial officer Pierre-Andre Terisse said.
Fresenius, a German health-care company, was considering bidding as much as e4bn, Reuters reported, citing two people close to the situation it did not name. Terisse declined to comment on whether
The French company acquired the business in 2007 with its e12.3bn purchase of Royal Numico.
Fonterra said in August that a whey protein used in the baby formula might have been tainted with a potentially fatal bacteria. The incident prompted product recalls in
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