Fonterra says its holding its own in Canterbury as farmer suppliers look to new processors

Mon, 30 Mar 2015

By Fiona Rotherham March 31 (BusinessDesk) - Fonterra Cooperative Group, New Zealand’s largest dairy processor, says it’s holding its own in the dairy-intensive Canterbury region, despite reports some of its 10,600 farmers shareholders are lining up to supply milk to its competitors in the wake of its weak interim results last week. Farmers were disappointed with the half-year results, which included a 16 per cent drop in profit to $183 million and a trimming of the forecast dividend payout for the year by 5 cents to a range of between 20...

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