Fonterra, Sharesies join to make share trading easier
Fonterra is teaming up with wealth app provider Sharesies to make it easier for its farmer shareholders to trade co-op shares among themselves.
Fonterra chief executive Miles Hurrell says the co-op cannot afford to repeat last year’s disappointing performance.
The co-op has forecast earnings of 15-25c/share for this financial year, based on a forecast EBIT range of $700-800 million.
“While this is down on last year, our forecast EPS (earnings per share) is up, reflecting lower interest and tax. To get here, we can’t repeat last year’s disappointing performance.
“The fundamentals of dairy remain strong.”
He says the world wants more dairy, and a growing middle class with high disposable incomes is looking for premium products.
“We believe we can create value from innovation, sustainability and efficiency.
“And our new strategy positions us well to leverage this.”
But at the same time, Hurrell says, the global economy is showing signs of slowing, with increasing trade tensions.
“Given our reliance on the international market, these are factors we continue to watch closely.”
On 2019-20 milk collection, he says milk collection forecast is similar to last year.
Fonterra has revised its milk price to a range of $6.55 to $7.55/kgMS – the fourth consecutive year of milk prices over $6/kgMS.
Rural banker Rabobank is partnering with Food Rescue Kitchen on a new TV series which airs this weekend that aims to shine a light on the real and growing issues of food waste, food poverty and social isolation in New Zealand.
Telco infrastructure provider Chorus says that it believes all Kiwis – particularly those in the rural areas – need access to high-speed, reliable broadband.
World Veterinary Day falls on Saturday 27 April.
The Director General of MPI, Ray Smith says it's important for his department to celebrate the success of a whole range of groups and people around the country.
A small company which mobilised veterinarians around the country to deal with Mycoplasma bovis was one of the winners in this year's Biosecurity Awards, held at Parliament.