Fonterra's half year profit is up 23 percent and its interim dividend is up 50-percent, as it sells more processed product at a higher profit margin.
But it's keeping the forecast milk payout midpoint unchanged at 7-dollars-80, following a recent drop in global raw product prices.
Fonterra Chief Executive Miles Hurrell says China is still a growth opportunity, but it's only part of their diversified global strategy.
He says China's geopolitics is something everyone needs to be aware of, but China still has a growing middle class.
