Coutts appointed chair-elect of Mainland Group
Fonterra has named Elizabeth (Liz) Coutts the chair of Mainland Group, the proposed divestment entity of the co-operative’s consumer business.
Fonterra Shareholders' Council chairman, Duncan Coull, said today's interim results announcement was in line with forecasts, and the expectations of the council.
Coull noted the board's decision to pay out an interim dividend of 20 cents per share, and to accelerate the final dividend payments, would be very well-received by farmer shareholders and go some way to alleviating immediate on-farm cash-flow pressures.
"With the forecast milk price remaining at $3.90 per kg/MS, farmer shareholders' expectations are that the value-add side of their business will provide them the much talked about counter-cyclical benefits.
"The results in this regard are encouraging in that the business, on the back of weaker global demand, has moved volume into higher value which has contributed to the lift in interim profit.
"A clear focus on driving cash into the business is also evident in terms of free cash flow and a reduction in gearing ratio.
"It is important that the board continues to drive the business forward as the performance of some business units, such as Australia, Venezuela and China Farms are having a negative effect on the business.
"However, the council looks forward to the current positive momentum continuing and translating into more cash for our farmers."
Rural retailer Farmlands has launched a new casual clothing range available across 42 stores nationwide and through its online store.
Federated Farmers says the health and safety changes announced this week by the Government represent the start of overdue reforms.
The Government is calling on rural New Zealanders to share their views on proposed regulations designed to improve the management of farm plastic waste.
For many urban New Zealanders, stepping into Pāmu’s Pinta dairy farm near Taupo last month was the first time they had had the chance to experience farm life up close.
After tasting 240 New Zealand made cheeses, judges have bestowed medals upon 199 of the entries.
Bay of Plenty’s top share farmers Andre and Natalie Meier are no strangers to the New Zealand Dairy Industry Awards winning circle.
OPINION: Is it the beginning of the end for Greenpeace?
OPINION: The good times felt across the dairy sector weren't lost at last week's Beef + Lamb NZ annual meeting.