Fonterra quiet on consumer business divestment

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
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...

More Primary Sector

Fonterra steps up work on potential consumer business divestment
Primary Sector

Fonterra steps up work on potential consumer business divestment

Last month Fonterra said it was still working towards a 12- to 18-month timeframe. 

Staff reporters 10 Oct 2024
Synlait lifts 2024/25 forecast milk price
Primary Sector

Synlait lifts 2024/25 forecast milk price

Its $9 per kilogram of milk solids is in line with Fonterra's midpoint.

Rebecca Howard 10 Oct 2024
Delegat boss Steve Carden quits
Primary Sector

Delegat boss Steve Carden quits

Delegat Group managing director Steve Carden has resigned.Having been with the business for three years, his last day will be on Jan 31, 2025.He joined the New Zealand Exchange-listed (NZX) wine group in 2022, having been chief executive of state-owned farmer Pāmu for eight years...

Riley Kennedy 08 Oct 2024
What new Japanese owners plan for Ashburton Meat Processors
Primary Sector

What new Japanese owners plan for Ashburton Meat Processors

New beef chain up to export standards and meat-processing room coming.

Riley Kennedy 07 Oct 2024