Friday, 12 August 2022 13:25

Fonterra updates earnings guidance

Written by Staff Reporters

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Dairy co-operative Fonterra has released updated earnings guidance.

Fonterra has updated its earnings guidance for the 2022 financial year that ended on 31 July 2022, indicating that earnings will be towards the top end of its current guidance of 25 – 35 cents per share.

Chief executive Miles Hurrell says that while the co-operative is still in the processing and auditing its 2022 numbers, there is now enough certainty overall to provide an update ahead of the release of its annual results in September.

“Our Co-op has made good progress against our strategy over the past 12 months, and we look forward to updating our stakeholders when we release our results in September,” Hurrell says.

He says that looking ahead, there is a positive outlook for dairy.

“We continue to see favourable supply and demand dynamics and remain well-positioned to keep delivering against our strategy.”

Fonterra will release its financial results for the year ending 31 July 2022 on Thursday, 22 September 2022.

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