Displaying items by tag: Miles Hurrell

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.

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.

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

Fonterra last week lifted its earning guidance for this season but narrowed its forecast farmgate milk price due to softening whole milk powder prices.

Fonterra says it must set a target for scope 3 emissions from supplying farms or risk losing global business contracts to rival processors.

Fonterra has posted a strong first quarter results for this financial year.

Fonterra farmers are being told to brace for another carbon emissions target.