Photo: RNZ / Cole Eastham-Farrelly

Dairy giant Fonterra has increased its first quarter profits to $278 million, $15m more than a year ago.

Key numbers for the quarter ended 31st October:

Net profit $278m up $15m

Forecast FY earnings unchanged at 45-65cps

Midpoint milk price forecast $9.50 per kgMS

Lactalis gain

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