Fonterra unveils first electric refrigerated truck
Fonterra has unveiled the first refrigerated electric truck to deliver dairy products across Auckland.
Fonterra's full-year results and strategy refresh has been well received by shareholders says Fonterra Co-operative Council chair James Barron.
He says farmers are now seeing "a much nimbler business".
"Management was able to fully utilise our co-op's scale and diversification by shifting milk into the markets, categories and product lines that were the most profitable in the Covid-19 environment."
Fonterra last month announced a net profit of $599 million and a long-term growth plan that includes pulling out of global milk pools and working on adding value to New Zealand milk.
Barron noted that the results are largely in line with the three-year targets announced in 2019, and show the co-op can deliver healthy earnings and a strong milk price.
He says that the dividend payment of 20c/share is evidence of the improved business performance and notes that debt has significantly reduced and is now at a comfortable level.
Barron acknowledged the hard work that Fonterra chief executive Miles Hurrell and his team had put in to achieve the results, but noted that there was still more work to do around return on capital.
He also welcomed longer-term performance targets included in the long-term strategy update.
"Council has been hearing members asking for this forward outlook, and we commend the board and management for responding with it," Barron says.
"We understand from our independent analyst Northington Partners that the level of transparency provided is high and relatively rare in the New Zealand context."
The council's annual report, out later this month, will contain more detailed analysis and commentary on the co-op's performance and projections.
Fonterra has unveiled the first refrigerated electric truck to deliver dairy products across Auckland.
Research and healthcare initiatives, leadership and dedication to the sector have been recognised in the 2025 Horticulture Industry Awards.
Virtual fencing and pasture management company Halter says its NZ operations has delivered a profit of $2.8 million after exclusion of notional items.
Manuka honey trader Comvita slumped to a $104 million net loss last financial year, reflecting prolonged market disruption, oversupply and pricing volatility.
The Government has struck a deal with New Zealand's poultry industry, agreeing how they will jointly prepare for and respond to exotic poultry diseases, including any possible outbreak of high pathogenicity avian influenza (HPAI).
The conversion of productive farmland into trees has pretty much annihilated the wool industry.
OPINION: Milking It reckons if you're National, looking at recent polls, the dream scenario is that the elusive economic recovery…
OPINION: Sydney has a $12 million milk disposal problem.