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14 Aug 2020 7:33
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  •   Home > News > Rural

    Fonterra is reducing its forecast earnings by 15 to 25 cents a share

    Fonterra is reducing its forecast earnings by 15 to 25 cents a share


    Fonterra
    Fonterra
    And as a result, the milk processor won't pay out interim dividends to shareholders.

    Chief executive Miles Hurrell business is growing, despite not meeting forecast earnings.

    He says they're behind where they planned to be - but it's still a growth story from a wider Fonterra perspective.

    ASB Rural Economist Nathan Perry says the net gain for farmers is still positive.

    However, he says Fonterra still has some financial performance concerns - which could take several years to address.

    © 2020 Newstalk ZB, NZCity


     Other Rural News
     17 Jul: Rapid gains in the New Zealand dollar have seen Fonterra trim its forecast payout by five cents for the recently completed season
     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
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