Fonterra comfortable with higher milk price squeezing co-op's margins

Fonterra's chief financial officer Andrew Murray. (Image: Fonterra)

Fri, 06 Dec 2024

Fonterra is “comfortable” with where its margins are sitting despite being squeezed by a higher milk price.But that higher forecast to the co-op’s farmer-owners, lifted for the fourth time this season, will pay out an extra $500 million to suppliers, its chief financial officer says.The dairy giant reported its first-quarter results on Thursday with its net profit down nearly 25% to $263m over the three months to the end of October.Its revenue was up 5% to $5.1b with sales volume, down 4% to 704,000 metric tonnes, reflecting i...

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