News | Rural
6 Dec 2019 15:54
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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.

    © 2019 Newstalk ZB, NZCity


     Other Rural News
     04 Dec: Dairy prices have fallen for the first time in three months
     20 Nov: Global dairy prices have risen 1.7 percent at Fonterra's latest overnight auction
     15 Nov: Fonterra's human resources manager has resigned after less than a year in the job
     06 Nov: Global dairy prices have risen 3.7-percent at Fonterra's latest overnight auction
     22 Oct: Good news for farmers from Fonterra this morning
     18 Oct: Trouble at Fonterra, but not of the financial kind this time
     17 Oct: Emergency services are trying to establish what caused a chemical explosion at a Fonterra plant north of Whangarei
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