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7 Jul 2020 11:06
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  •   Home > News > Rural

    It's being suggested the Fonterra financials paint an even worse picture than the headlines

    It's being suggested the Fonterra financials paint an even worse picture than the headlines


    Fonterra
    Fonterra
    The dairy co-operative lost almost 200-million dollars last financial year - its first ever net loss.

    Andrew Kelleher from JMI Wealth says investors were expecting bad news.

    They knew the co-op had lost value in its Beingmate investment, and had to pay a 180-million dollar settlement to French company Danone .

    But Kelleher says looking underneath all of that, actual operational earnings were disappointing as well.

    He says its debt is up to 6.2-billion dollars, which is outside of borrowing guidance ratios, the return on capital is lower, and expenses are higher.

    © 2020 Newstalk ZB, NZCity


     Other Rural News
     26 Jun: Manawatu dairy farmer Andrew Hoggard is the new president of Federated Farmers
     26 Jun: Former Zespri chairman Peter McBride will lead the boardroom of the country's largest company
     26 Jun: Fonterra is replacing its retiring chairman John Monaghan with Tauranga dairy farmer and kiwifruit grower Peter McBride
     24 Jun: The global demand for sheep milk is growing, and Kiwi farmers are responding
     23 Jun: Fonterra farmers who produce sustainable, high quality milk will soon be eligible for a new payment of up to 10 cents per kg of milksolids
     15 Jun: Dairy farmers aren't overly optimistic that a wide ranging milk payout will be narrowed
     03 Jun: Dairy farmers have agreed to again bankroll their industry organisation
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