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30 Mar 2024 4:14
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  •   Home > News > Rural

    It's being suggested the Fonterra financials paint an even worse picture than the headlines

    It's being suggested the Fonterra financials paint an even worse picture than the headlines


    Fonterra
    Fonterra
    The dairy co-operative lost almost 200-million dollars last financial year - its first ever net loss.

    Andrew Kelleher from JMI Wealth says investors were expecting bad news.

    They knew the co-op had lost value in its Beingmate investment, and had to pay a 180-million dollar settlement to French company Danone .

    But Kelleher says looking underneath all of that, actual operational earnings were disappointing as well.

    He says its debt is up to 6.2-billion dollars, which is outside of borrowing guidance ratios, the return on capital is lower, and expenses are higher.

    © 2024 Newstalk ZB, NZCity

     Other Rural News
     21 Mar: The boss of Fonterra is playing down concerns about the Chinese market
     21 Mar: A good news day for Fonterra shareholders
     21 Mar: Dairy farmers will be breathing a sigh of relief with Fonterra's latest results
     20 Mar: There's bad news for dairy farmers on the eve of Fonterra's half year results -- with dairy prices dropping a further 2.8 percent at the latest Global Dairy Trade auction this morning
     13 Mar: Sheep and beef farmers are looking down the barrel of their worst year in 15 years
     07 Mar: Sheep and goat milk farmers are being left with few options as the sector grinds to a halt
     21 Feb: Dairy prices are up 0.5 percent at the latest Global Dairy Trade auction overnight
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