Fonterra eyes Kiwi-made in Chile exit, Aussie IPO

Fonterra eyes Kiwi-made in Chile exit, Aussie IPO
Rebecca Howard
Fonterra announced a solid full-year profit and said it's looking to sell its Chilean assets and might sell down its Australian business in an initial public offering as part of a wider reset. The world's biggest dairy exporter said net profit was $599 million for the 12 months ended July 31, down $60m on the prior year, which included some gains from asset sales.Normalised net profit was $588m, up $190m from the previous year. The cooperative’s normalised earnings before interest and tax were $952m, up $73m.“We&rs...

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