Media

Fonterra Co-operative Group Ltd today upgraded its earnings guidance to 50 – 70 cents per share from 45 - 60 cents per share and lowered and narrowed its forecast Farmgate Milk Price range of $8.50 - $10.00 per kgMS to $8.50 - $ 9.50 per kgMS, with a midpoint of $9.00 while holding its advance rate. It also reported a strong start to the 2023 financial year.

Fonterra can today confirm that its new Flexible Shareholding capital structure is set to be implemented in late March 2023, subject to the Board being satisfied that the relevant preparations are completed before then.

Fonterra is pleased to announce the divestment of its Chilean Soprole business. The divestment comprises a number of transactions that result in aggregate consideration of 591.07 billion Chilean Pesos (approximately NZD1.055 billion).

Fonterra is taking another step in implementing its strategy to be a leader in nutrition science and innovation with the launch of a new wellbeing solution brand, Nutiani.

Fonterra today confirms the finalisation of the strategic partnership with New Zealand’s Exchange (NZX) and the European Energy Exchange (EEX) to each take ownership stakes in Global Dairy Trade (GDT) alongside the Co-op.

Fonterra today announced its 2022/23 opening forecast Farmgate Milk Price and provided an update on its third-quarter performance.

Fonterra Co-operative Group Limited today increased the mid-point of its forecast Farmgate Milk Price range to $6.80 per kgMS, up from $6.40 per kgMS, while retaining its current +/-50c per kgMS range.

Fonterra has taken a 10 per cent shareholding in Lithuania’s biggest dairy producer, AB Rokiskio Suris, securing a supply line of high-value whey ingredients while opening up product options across Europe and the Middle East, and giving the Co-op more opportunities to produce higher value products from New Zealand milk.