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1 Dec 2020 2:38
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  •   Home > News > Rural

    Fonterra's boss is confident the company's made the right decision

    Fonterra's boss is confident the company's made the right decision


    Fonterra
    Fonterra
    The co-operative is forecasting a loss of up to 675-million-dollars for this financial year, as it writes down under-performing overseas assets .

    It's decided to not pay an annual dividend to the end of July - so it can pay off debt.

    Chief executive Miles Hurrell says he's determined to "front foot" the issue.

    He says the decision will impact farmers, their balance sheets and unit holders but knows it's the right thing to do to get the co-op back in shape.

    The annual loss will be Fonterra's second since its inception in 2001.

    © 2020 Newstalk ZB, NZCity


     Other Rural News
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