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9 Jul 2020 13:23
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  •   Home > News > Business

    More bad news for Fonterra is being seen as evidence its structure isn't working

    More bad news for Fonterra is being seen as evidence its structure isn't working


    Fonterra
    Fonterra
    It's facing a loss of up to 675-million-dollars this financial year, after huge write-downs of its assets.

    JMI Wealth director Andrew Kelleher says it highlights Fonterra's economic model again.

    He says as a cooperative, it doesn't have the flexibility of a listed company that can just issue equity, shore up the balance sheet and move on.

    Kelleher says Fonterra also has to give farmers the best price for raw materials, which cuts into its margins.

    © 2020 Newstalk ZB, NZCity


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     09 Jul: The Health Ministry didn't close a central Auckland supermarket visited by a man with Covid-19 ... because he wasn't positive at the time
     09 Jul: The Public Service Association's criticising how Auckland Council dealt with announcing further job losses
     08 Jul: Power is being restored to 25-thousand homes and businesses north of Auckland as stormy weather rocks the region
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    Counties-Manukau has signed first-five Baden Kerr for a third stint with the Mitre10 Cup side More...


    BUSINESS BUSINESS
    Contact Energy is warning power prices could go up - after the nation's biggest user announced plans to shut up shop More...



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