Fonterra Co-operative Group Ltd today released its 2023 Interim Results which show a 50% increase in Profit After Tax to $546 million, an earnings per share of 33 cents, and a decision to pay an interim dividend of 10 cents per share alongside a forecast Farmgate Milk Price range of $8.20 - $8.80 per kgMS.
The Co-op also upgraded its full year forecast normalised earnings to 55-75 cents per share and announced a proposed tax-free capital return of approximately 50 cents per share and unit, subject to completion of the sale of its Chilean Soprole business.
CEO Miles Hurrell says the results show the Co-op is performing well, with profit up 50%, thanks to its scale and diversification.
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