Winston's crusade
OPINION: A short-term sugar hit. That's what NZ First leader Winston Peters is calling the proposed sale of Fonterra's consumer and associated businesses.
Fonterra has reported a solid half-year result – an 8% lift in profit after tax to $729 million.
The co-op’s operating profit for six months ending January 31, 2025 topped $1.1 billion, up 16% on last year. Earnings per share rose 10% to 44c.
Fonterra chief executive Miles Hurrell says it’s pleasing to be able to deliver these results for farmer shareholders and unit holders.
“We’re focusing on driving value which includes delivering strong financial performance while achieving the highest sustainable farmgate milk price," says Hurrell.
“At the same time, we’re looking ahead as we implement our strategy and continue to invest for the future. We have commenced projects to unlock manufacturing production capacity for our Ingredients and Foodservice channels, with site works now underway at Studholme for high-value protein capacity and at Edendale for a new UHT cream plant.
“We’re also continuing to invest to future proof our operations and supply chain network, with work underway on a new Whareroa coolstore and plans for decarbonisation projects at Clandeboye, Edendale, Edgecumbe and Whareroa to secure energy supply and reduce the co-op’s emissions.
“As we focus on delivering the strongest farmer offering, we have announced new funding for farmers with lower emissions milk and expanded the fixed milk price programme that farmers can use to get more certainty around the farmgate milk price,” says Hurrell.
A major feature of the Ashburton A&P Show, to be held on October 31 and November 1, will be the annual trans-Tasman Sheep Dog Trial test match, with the best heading dogs from both sides of the Tasman going head-to-head in two teams of four.
Fewer bobby calves are heading to the works this season, as more dairy farmers recognise the value of rearing calves for beef.
The key to a dairy system that generates high profit with a low emissions intensity is using low footprint feed, says Fonterra program manager on-farm excellence, Louise Cook.
Rural retailer Farmlands has reported a return to profitability, something the co-operative says shows clear progress in the second year of its five-year strategy.
According to a new report, the Safer Rides initiative, which offered farmers heavily discounted crush protection devices (CPDs) for quad bikes, has made a significant impact in raising awareness and action around farm vehicle safety.
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