Subsidy cuts affect ArlaThis article was originally published in Foodnews
ARLA Foods amba has announced half year results in line with expectations. Net profit for the January-June 2008 period totalled DKK481 million (US$96.2 million). The Danish dairy did not provide other figures. Arla said that a number of factors impacted on earnings, including the cancellation of EU export subsidies in 2007, falling foreign exchange rates, a poor performing Middle Eastern market and rising inflation and energy costs.