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...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Already a Subscriber ? Sign in here.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Infrastructure

Wellington expressways save $173m a year, report finds

Transmission Gully saves up to 31 minutes in peak times some days, report says.

John Anthony 10:00am

Primary Sector

Co-ops last five times longer than limited liability companies - report

Riley Kennedy 9:30am

The Quiz Free

QuiznessDesk, Friday, Sept 19

Can you get them all correct without cheating?

The Quizmaster 9:15am

Sponsored

Future leaders start by Dreaming Big

How OnBeingBold empowers Year 13 girls at free leadership events.

OnBeingBold

Sponsored

Free AI training blitz targets 10,000 Kiwis

Workshops aim to close NZ’s AI skills gap and boost productivity – no tech skills required.

Sponsored by Lumify

More Primary Sector

Primary Sector

Co-ops last five times longer than limited liability companies - report

Riley Kennedy 9:30am

Primary Sector

Without Dawn Meats, Alliance faces 'real’ threat of collapse

The fate of the deal will come down to a shareholder vote next month.

Riley Kennedy 5:00am

Primary Sector

Dawn Meats offer for Alliance above independent valuation

A vote will be held next month.

Riley Kennedy 18 Sep 2025

Primary Sector

MyFarm KiwiFruit Fund launches $35 million capital raise

The MyFarm KiwiFruit Fund has launched a $35 million capital raise for wholesale and institutional investors, and those offshore that qualify for the Active Investor Plus visa.Units are being offered at $1.02, a 5% discount to the fund’s net asset value.The offer, which will clos...

Rebecca Howard 18 Sep 2025

Fonterra upbeat, says Australia remains on strategy

More Primary Sector

Your company has a subscription

Team