Displaying items by tag: Fonterra

An $800 million tax-free capital return announced by Fonterra will be "very welcomed" by farmers, says Federated Farmers dairy section chair Richard McIntyre.

Demand for protein and cheese has helped Fonterra overcome inflationary pressures to post a solid half-year result.

As Fonterra revealed its interim results for 2023 this morning, two Greenpeace activists were arrested in a protest outside the co-operative’s Auckland offices.

Fonterra has posted a solid half year result, with a net profit of $546 million, up $182m from last year.

Dairy consumers are demanding change, now, according to Charlotte Rutherford, director of sustainability at Fonterra.

Around 100 farms remain inaccessible by road in northern Hawke’s Bay, two weeks after carnage caused by Cyclone Gabrielle.

Softening global demand for milk has led Fonterra to downgrade its 2022-23 forecast milk price.

Fonterra says its remains committed to targeting “a significant” capital return to shareholders and unit holders next financial year.

A small number of farms in Hawke’s Bay have been forced to dry off cows because Fonterra tankers are unable to pick their milk.

Fonterra’s chief operating officer (COO) Fraser Whineray is leaving the co-op after three years in the
role.