High dairy prices will squash Fonterra margins

High dairy prices will squash Fonterra margins
Dan Brunskill
New Zealand’s all-important dairy cooperative yesterday reported a half-year profit of $391 million but is warning record high commodity prices will put pressure on margins in the second half.Fonterra’s group earnings before interest and tax were $657m, down 18% on the same period in 2021, and “normalised” profit was $418m.The normalised result excluded a $50m loss on the disposal and downward revaluation of its Beingmate holding and a $23m impairment reversal for China Farms.Chief executive Miles Hurrell said there were...

More Markets

NZ sharemarket celebrates a near 1% Easter rise
Markets Market close

NZ sharemarket celebrates a near 1% Easter rise

The S&P/NZX 50 Index closed at 12,105.29, up 94.62 points or 0.79%.

Graham Skellern 28 Mar 2024
F&P Healthcare facing $12m bill for product recall
Markets

F&P Healthcare facing $12m bill for product recall

The company will provision the cost in its next full year results.

Staff reporters 28 Mar 2024
Synlait seeking help from major shareholder for $130m debt
Markets

Synlait seeking help from major shareholder for $130m debt

Synlait enters trading halt as it needs more time to come up with cash.