Fonterra updates earnings
Fonterra says its earnings for the 2025 financial year are anticipated to be in the upper half of its previously forecast earnings range of 40-60 cents per share.
Milk from the Van Dairy Group, which owns 23 farms in Tasmania is picked up by Fonterra.
Now media reports suggest the company could sell 10 farms as it struggles to clean up its act.
The Australian Environmental Protection Agency has launched an investigation into alleged animal abuse and overstocking of cattle, which it is alleged is causing effluent systems to fail and damaging nearby waterways.
A series of confidential documents, photographs and accounts from employees and locals appeared to show the conditions deteriorated after the 2016 takeover by China’s Moon Lake.
The big question is, given the highly competitive raw milk market in Australia, will Fonterra feel pressure to stop collecting milk from the farm until the farm owners tidy up their act?
