Fonterra Shareholders' Fund has announced its financial results for the fiscal year ending on July 31, 2023.
The company reported earnings of 95 cents per share, up from 36 cents per share in the previous year.
Profit after tax increased by 170% to $1.6 billion, and the return on capital rose to 12.4% from 6.8%.
The final Farmgate Milk Price for the 2022/23 season was $8.22 per kgMS.
The company also declared a full-year dividend of 50 cents per share, including an interim dividend of 10 cents per share.
Additionally, Fonterra returned a tax-free capital of 50 cents per share to shareholders following the divestment of Soprole.
The company's milk collections for the year totaled 1,480 million kgMS.
The forecast for the 2023/24 season Farmgate Milk Price range is $6.00 - $7.50 per kgMS, with a midpoint of $6.75.
The forecast for earnings guidance in 2023/24 is 45-60 cents per share.
Fonterra CEO Miles Hurrell acknowledged the challenging conditions faced by farmers and highlighted the company's progress in strategic initiatives.
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