Markets

Fonterra is struggling to hire a new CEO

It’s the $5 million a year job that no-one wants. Several top Kiwi chief executives have been approached for the top job at Fonterra, New Zealand’s largest company with a turnover of $19.2 billion. It is understood one came close to inking the deal but at the last minute had […]
Fonterra is struggling to hire a new CEO
Markets

Fonterra calls for an immediate trading halt

Fonterra has requested an immediate trading halt to the Australasian stock markets as it considers the outcome of its arbitration with Danone seeking $980 million from the dairy giant as a result of a botulism scare. Danone has made two claims, one to be decided by a New Zealand tribunal, […]
Fonterra calls for an immediate trading halt
Markets

Dairy farmers just got some good news for a change

The slump in global prices for dairy appears to have eased. The Fonterra Co-operative Group, the world’s biggest dairy exporter, today increased its forecast Farmgate Milk Price by 15 NZ cents to $NZ6.15 per kgMS. Chairman John Wilson says the rise is “good news for our farmers and their communities” […]
Dairy farmers just got some good news for a change
Markets

Fonterra profits soar despite the global dairy glut

The Fonterra Co-operative Group, the world’s biggest dairy exporter, increased net profit after tax by 65% to $NZ834 million ($A806 million) despite a slump in the global dairy market. The result, reflecting better margins from the cooperative’s move into higher returning products, was on a 9% fall in revenue to […]
Fonterra profits soar despite the global dairy glut
Markets

Fonterra gives struggling dairy farmers early cash as the ACCC investigates

Fonterra, the world’s biggest dairy exporter, is making its dividend payments early to help farmers hit by a cut in the price it pays for their milk. Australia’s competition watchdog, the ACCC (Australian Competition and Consumer Commission), is investigating the cuts by Murray Goulburn and Fonterra to to determine if […]
Fonterra gives struggling dairy farmers early cash as the ACCC investigates