Fonterra woes a drag for two biggest shareholders

Wed, 14 Aug 2019

By Rebecca Howard Aug. 14 (BusinessDesk) - Fonterra Cooperative Group's two biggest shareholders – Dairy Holdings and state-owned Landcorp Farming – say the latest downgrade will weigh on their own earnings and add to farmer malaise against a backdrop of already weak confidence. The dairy exporter this week said it expects to report a full-year loss of as much as $675 million and won't pay a dividend as it slashes the value of global assets. It will be the second annual loss in a row. “This is a concern and will have quite an impact o...

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