Jamie Mackay: The Country host on Fonterra posting an improved financial result - Heather du Plessis-Allan Drive

New Zealand's economy has been shrinking, but our largest company has seen profits surge.

Fonterra's announced a 13 percent rise in annual operating profit.

Its cash return to shareholders is up 30.6 percent, and its final farmgate milk payout to farmers has reached a new record high of $10.16 per kg of milk solids.

The Country's Jamie Mackay explains further.

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