The Chairman and Group CEO's Address at the AGM
MKTUPDTE
Tue, Dec 10 2024 09:56 am
The Chairman's address to the Annual Meeting of Shareholders held on 10 December 2024, is attached together with that of the Group Chief Executive Officer's.
Included in the address is a trading update for the first 18 weeks of FY2025. For the first 18 weeks of the 2025 financial year Group turnover is up +10.1%, although cycling a weaker FY 2024 comparison. This trading period includes the recent Black Friday promotional event. Encouragingly, despite a broader market trend of deeper and more prolonged discounting compared to last year, our gross margin percentage has remained stable. With the crucial four weeks of Christmas trading still ahead, this result shouldn’t be taken as indicative of the full season.
Further detail can be found in the attachments.
Announcement PDF
Markets News
Primary Sector
Fonterra divestment ‘not about waving the white flag’
Fonterra seeks strong support for divestment, but Hurrell denies white flags on brands.
Markets
Market Close
Softer market ignores Budget
Post-Budget, all eyes are on the Reserve Bank's OCR announcement next Wednesday.
Retail
Restaurant Brands ‘does not seem to care’: Shareholder
At the fiery annual meeting, a shareholder called the Californian market a ‘sinkhole’.
