Fonterra quiet on consumer business divestment

Fonterra’s chief financial officer Andrew Murray, chief executive Miles Hurrell and chair Peter McBride front media on Wednesday. (Image: BusinessDesk)

Riley Kennedy

Wed, 25 Sep 2024

Fonterra is not giving away many details about the process to sell its consumer business.On Wednesday, the dairy giant said it would pay its second-largest dividend of 55 cents after reporting net profit for the year from continuing operations of $1.168 billion.Four months ago, Fonterra announced it would be looking at options for its consumer channel through full or partial divestment, as well as at Fonterra Oceania and Fonterra Sri Lanka.The idea was to drop the business and focus on its two ingredients and food service channels.Its consumer...

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