Miles Hurrell
Fonterra announces FY23 annual results
New Zealand dairy giant Fonterra announced its results for the financial year ending 31 July 2023, with full year reported earnings of 95 cents per share, reported profit after tax of NZ$1.6 billion and a final 2022/23 season farmgate milk price of $8.22 per kgMS.
Fonterra updates on business sale in Chile
CEO Miles Hurrell says he’s pleased to confirm approval from the competition authority, Fiscalía Nacional Económica (FNE), has now been received.
Fonterra’s COO Whineray to leave co-operative
Fonterra has announced its chief operating officer, Fraser Whineray, intends to resign from Fonterra at the end of this financial year on 31 July.
Fonterra upgrades earnings guidance and posts strong first quarter
Fonterra Co-operative Group 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 NZ$8.50-$10.00 per kgMS to $8.50-$ 9.50 per kgMS.
Fonterra announces divestment of Chile business
The divestment comprises a number of transactions that result in aggregate consideration of 591.07 billion Chilean Pesos (approximately USD 640 million).
Fonterra announces FY22 annual results
Fonterra has announced a strong set of results for the financial year ending 31 July 2022, reflecting a 2021/22 Farmgate Milk Price of NZ$9.30 (US$5.46) per kgMS.
Fonterra revises price due to geopolitical events
World events are having an effect on dairy farm gate prices, says Fonterra.
Fonterra to exit Russian businesses
Fonterra has announced it will exit its businesses in Russia. This follows the Co-op’s decision to suspend shipments of product to Russia at the end of February.
Fonterra’s CFO Marc Rivers to leave the Co-op
Fonterra has announced that its chief financial officer Marc Rivers will be leaving the Co-op at the end of 2022 following its Annual Meeting.
Fonterra, NZX and EEX enter GDT partnership for future growth
Fonterra has agreed a 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 revises milk forecast
Fonterra Co-operative Group revised the forecast for its 2021/22 New Zealand milk collections to 1,500 million kilograms of milk solids (kgMS), down from its opening forecast of 1,525 million kgMS.
Fonterra ups farmgate milk price and reports solid start to 2022
Fonterra Co-operative Group lifted its 2021/22 forecast farmgate milk price range, reported a solid start to the 2022 financial year and revised its earnings guidance.
Fonterra’s foodservice business hits $3 billion in revenue
Fonterra’s Foodservice business, Anchor Food Professionals, has reached a milestone to become a $3 billion NZD annual revenue business.
Fonterra completes reset, announces annual results & long-term growth plan out to 2030
CEO Miles Hurrell says the last three years have been about resetting the business.