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.
OPINION: In recent years Fonterra has been ridiculed by commentators about the fact that it has been upstaged by a young dairy company, a2 Milk.
Just last August, a2 was living the dream, reporting a bumper after-tax profit of $385.6 million on revenues of $1.73 billion.
Its share price, which at one stage had dropped to 10c, hit the giddy heights of $21.50, valuing the company at $15.9 billion, above NZ's biggest co-op.
But the tables have turned. Thanks to three successive profit downgrades, a2's fortunes have tumbled.
In recent weeks, its share price was $9.50, meaning the company has more than halved in value in little over six months.
It's currently worth about $7 billion.
Federated Farmers is throwing its support behind the Fast-track Approvals Bill introduced by the Coalition Government to enable a fast-track decision-making process for infrastructure and development projects.
The latest report from ANZ isn’t good news for sheep farmers: lamb returns are forecast to remain low.
Divine table grapes that herald the start of a brand-new industry in Hawke’s Bay have been coming off vines in Maraekakaho.
In what appears to be a casualty of the downturn in the agricultural sector, a well-known machinery brand is now in the hands of liquidators and owing creditors $6.6 million.
One of New Zealand’s deepest breeder Jersey herds – known for its enduring connection through cattle with the UK’s longest reigning monarch, Queen Elizabeth II – will host its 75th anniversary celebration sale on-farm on April 22.
Rural trader PGG Wrightson has revised its operating earnings guidance, saying trading conditions have deteriorated since the last market update in February.