Fonterra, Sharesies join to make share trading easier
Fonterra is teaming up with wealth app provider Sharesies to make it easier for its farmer shareholders to trade co-op shares among themselves.
Fonterra is maintaining its 2022-23 forecast farmgate milk price range of $8.50–$10/kgMS.
The co-op is also forecasting 2023 normalised earnings guidance of 45-60c/share.
Fonterra chief executive Miles Hurrell says the longer-term outlook for dairy remains positive.
“And in the medium-term, we expect to see an easing in some of the geopolitical events, namely the Covid-19 lockdowns in China and the economic challenges in Sri Lanka.
“This has been reflected in our earnings guidance and forecast farmgate milk price for the 2022/23 season.”
Hurrell says the co-op continues to monitor a number of risks.
“The strength of our balance sheet means we remain in a strong position to weather uncertainty and market volatility.
“Our ability to refocus our product mix through our diverse and flexible operations footprint means the co-op’s milk will continue to be delivered to wherever the most value can be obtained for our farmer owners.
“The future for our co-op is exciting,” says Hurrell.
Third-year student Cady Burns has won the Waikato Regional Council Prize in Water Science for 2024.
The Rural Change programme, providing free private mental health professional sessions to the rural industry, is set to continue its next chapter within Rural Support Trust from 1 July 2024.
Beef + Lamb New Zealand chief executive Sam McIvor will step down in July.
A new report shows farm employers across the dairy, sheep and beef, and arable sectors have continued to invest strongly in one of their greatest assets – their staff.
The country’s 4200 commercial fruit and vegetable growers will vote from May 14 on a new HortNZ levy.
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