‘Still work to do’: Peter McBride on Fonterra's performance

Peter McBride. (Image: BusinessDesk)

Thu, 26 Sep 2024

Fonterra’s strong financial position has been the culmination of years of “really hard work”, chair Peter McBride says.While its net profit and revenue slipped, the dairy giant surprised the market on Wednesday by declaring it would pay its second-largest dividend of 55 cents.That included a 40c final dividend and a special dividend of 15c.Its net debt dropped by $600 million over the year to $2.6 billion – in line with Forsyth Barr’s forecasts - with its gearing ratio of 24%.That’s compared to $5.2b net...

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