Displaying items by tag: Miles Hurrell

Fonterra chief executive Miles Hurrell says the sale of the co-op’s consumer and associated businesses to Lactalis represents a great outcome for the co-op.

Fonterra has increased its 2024/25 forecast Farmgate Milk Price from $10/kgMS to $10.15/kgMS.

A record $10/kgMS opening forecast milk price for the new season means more money into Fonterra farmers pockets early, says Federated Farmers dairy chair Richard McIntyre.

Fonterra has announced an improved third quarter performance – with a profit after tax of $1.15 billion, up $119 million on the same period last year.

Farmgate milk price could stay above $10/kgMS for two consecutive seasons, however, Fonterra is cautioning farmer shareholders to be wary.

Fonterra has reported a solid half-year result – an 8% lift in profit after tax to $729 million.

Fonterra has reaffirmed a forecast milk price mid-point of $10/kgMS for its farmer shareholders, with just over two months of the 2024-25 season left to run.

The divestment process for Fonterra's global consumer business is gaining momentum, with the co-op meeting global fund managers this week on a potential listing of the co-operative's newly formed Mainland Group.

An outright sale of Fonterra’s global consumer business is more likely than a float, says Forsyth Barr senior analyst equities, Matt Montgomerie.

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.