Media

Fonterra Co-operative Group Ltd’s FY24 Interim Results were announced today. Fonterra Australia delivered EBIT of NZ$42m (AU$39m). This was down 43% vs the first half of last year, mainly due to the high cost of milk in Australia, which is disconnected from global commodity prices.

Following several months of negotiations, Fonterra Australia is pleased to confirm that an in-principle agreement has been reached with the United Workers’ Union to support production workers at our Cobden, Stanhope and Darnum sites.

The United Workers’ Union have advised that some Fonterra Australia production workers at our sites in Cobden, Darnum and Stanhope in Victoria will take industrial action on Wednesday 18 and Thursday 19 October 2023.

Fonterra Australia delivered EBIT of NZ$75 million (AU$69.3 million) in FY23, while paying a record-high milk price for Australian farmers and managing an operating cost increase of 23% on FY22.

For more than two decades, Fonterra’s Proud to be a Chef program has helped to fast-track the careers of almost 800 apprentice chefs, providing an unparalleled opportunity to learn from the best in the business and refine their culinary skills.

Fonterra has made the decision to close its Dennington site in South West Victoria, with the site to cease operations by the end of November 2019.

Fonterra Australia’s Tasmanian sites are set to gain from almost $12 million in capital projects to boost milk processing, cheese making and lactose capacity.