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14 Aug 2020 8:11
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  •   Home > News > Rural

    Problems across the ditch mean Fonterra isn't doing as well as it should

    Problems across the ditch mean Fonterra isn't doing as well as it should


    Fonterra
    Fonterra
    The dairy giant has announced a net profit after tax of 80-million dollars.

    Fonterra CFO Marc Rivers says it's good to see the Co-operative back in the black, but earnings are not where they should be.

    He says the Australia business had a very challenging first half, with gross margins down from 50 to eight million dollars.

    Rivers says this reflected lower milk collections, given the severe drought conditions, and the aggressive price competition.

    © 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
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     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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