Fonterra has provided an update on its forecast earnings for the 2024/25 financial year, with the co-operative anticipating its earnings to be in the upper half of the previously announced range of 40-60 cents per share.
The company attributed this positive outlook to a strong first half and good pasture growth, which led to an increase in its forecast milk collections.
Fonterra now expects its milk collections to reach 1,510 million kgMS.
Fonterra's chief executive, Miles Hurrell, said the co-operative's earnings momentum was driven by strong demand for its high-value ingredients products.
He also expressed confidence in the company's ability to pay a strong interim dividend, given the solid demand and well-contracted sales book for the season.
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