Fonterra profit up 50% in FY23 Interim Results
Fonterra Co-operative Group Ltd today released its 2023 Interim Results which show the Co-op has delivered a half year Profit After Tax of $546 million, an earnings per share of 33 cents, and a decision to pay an interim dividend of 10 cents per share alongside a forecast Farmgate Milk Price range of $8.20 - $8.80 per kgMS.
Fonterra revises FY23 forecast Farmgate Milk Price and collections
Fonterra Co-operative Group Ltd today reduced and narrowed its 2022/23 season forecast Farmgate Milk Price range from $8.50 - $9.50 per kgMS, with a midpoint of $9.00, to NZ$8.20 - $8.80 per kgMS, with a midpoint of $8.50.
Fonterra provides update on divestment of Soprole
Fonterra has today provided an update on the sale of its Chilean Soprole business to Gloria Foods - JORB S.A. (Gloria Foods).
Fonterra’s COO Fraser Whineray to leave Co-op
Fonterra today announced its Chief Operating Officer, Fraser Whineray, intends to resign from Fonterra at the end of this financial year on 31 July.
Fonterra and Nestlé agree sale of DPA Brazil joint venture
Fonterra and Nestlé today agreed the sale of their Dairy Partners Americas (DPA) Brazil joint venture to French dairy company Lactalis for BRL 700m (approximately NZD $210m subject to closing transaction adjustments). The deal is expected to be completed by mid-2023, subject to regulatory authority approvals.
Fonterra upgrades earnings guidance and posts strong first quarter
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 confirms timeline for Capital Structure implementation
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 announces divestment of Chile business
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, NZX and EEX confirm GDT strategic partnership
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.
