Dairy farmers are disappointed after Fonterra unveiled a record annual loss and signalled it was going back to basics in a bid to return to profitability.
New Zealand's largest company posted a $605 million loss, after writing down assets to the tune of $826 million.
Its boss says that's prompted a fundamental rethink of the co-operative's business - one that its farmer suppliers hope will pay dividends after its troubled expansion.
RNZ reporter Robin Martin has more.
