FIRST CUT: Fonterra posts loss of $557m as it writes off $826m from global businesses

FIRST CUT: Fonterra posts loss of $557m as it writes off $826m from global businesses
Paul McBeth
By Paul McBeth Sept. 25 (BusinessDesk) - Fonterra Cooperative Group reported its second loss in a row as it racked up $826 million of charges writing down assets around the world and meeting other one-off costs.  The Auckland-based cooperative posted a loss attributable to shareholders of $557 million in the 12 months ended July 31, widening from its maiden loss of $221 million a year earlier. Revenue fell 1.5 percent to $20.11 billion, while its cost of sales - primarily what it pays for milk - decreased 1 percent to $17.1 billion.  F...

More Primary Sector

Zespri on track for 'moderate increase' in volume next year
Primary Sector

Zespri on track for 'moderate increase' in volume next year

Zespri's producer vote to expand global supply passed this week.

Riley Kennedy 12 Dec 2024
Yashili NZ revenue dropped 42%
Primary Sector

Yashili NZ revenue dropped 42%

The Chinese-owned dairy processor’s accounts were due in May.

Riley Kennedy 12 Dec 2024
Zespri growers vote in favour of expanding global supply
Primary Sector

Zespri growers vote in favour of expanding global supply

Zespri’s growers have voted to support the expansion of the kiwifruit marketer’s global supply.A total of 90.6% of voting growers and 93.3% by fruit weight voted in favour of the resolution, which will allocate up to 420 hectares of SunGold fruit per year over six years in Italy,...

Riley Kennedy 11 Dec 2024