Fonterra Co-operative Group Ltd today released its 2023 Interim Results showing a Profit After Tax of NZ$546 million and Earnings per Share of 33 cents.

An interim dividend of 10 cents per share was also announced, alongside a forecast Farmgate Milk Price range of NZ$8.20 - $8.80 per kgMS.

The Co-op also upgraded its full year forecast normalised earnings from 50-70 cents per share to 55-75 cents per share, and announced a proposed tax free capital return to farmer owners and unit holders of around 50 cents per share, subject to completion of the sale of its Chilean Soprole business.

The results also reflect an organisational change to better support the Co-op's strategy, with Group Operations now shown as a separate segment.

See more