Fonterra upbeat, says Australia remains on strategy

Dairy giant retains guidance for FY23 (Image: Getty)

Thu, 22 Sep 2022

Dairy co-operative Fonterra said it reviewed several options and decided it was in its best interest to hang on to its Australian operations.“The business is going very well and will play a key role in helping us get to our 2030 target,” chief executive Miles Hurrell told journalists. Normalised revenue in Australia lifted 7% to $2.09 billion in the year to July 31, while normalised earnings before interest and taxation (Ebit) lifted 43% to $106 million, thanks to robust demand. Overall, the co-operative said total g...

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