Fonterra fattens margins when its farmers are getting squeezed

Fonterra fattens margins when its farmers are getting squeezed
(Image: NZME)
Riley Kennedy
Fonterra has fattened its margins when its farmer-owners are getting squeezed.On Thursday, the co-op made its fourth change to its forecast payout for the season and released its results for the first quarter of its financial year.Fonterra also increased its full-year earnings forecast, highlighting a lift in overall margins across its three channels.Acting chief financial officer Simon Till said the company’s performance for the first three months was “very pleasing”, particularly given the volatility that had played out...

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