National News

National News is brought to you by a partnership between Crux and RNZ News 

Fonterra announces $221m loss

Sep 13, 2018

Fonterra has announced a $221 million loss for the 12 months ended July.

The dairy co-operative's revenue was up 6 percent to $20.4 billion.

The full-year loss was larger than analysts had predicted and was due to a drop in profit margins across Fonterra's global ingredients and consumer and food service businesses, a large compensation payout to French food company Danone, and a write down of its investment in Chinese dairy company Beingmate.

Over the past month Fonterra has lowered its payout forecast for the just ended season by 5 cents to $6.70 a kilo of milk solids, and cut its forecast for the season just started by 25 cents to $6.75 per kg.


Become a Crux member today - and become part of our local community support team

New to Crux?

Create an account

It's free to register and we won’t bombard you with annoying emails. Login Here.



No one has commented on this page yet.