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 chief executive Miles Hurrell says the co-op cannot afford to repeat last year’s disappointing performance.
The co-op has forecast earnings of 15-25c/share for this financial year, based on a forecast EBIT range of $700-800 million.
“While this is down on last year, our forecast EPS (earnings per share) is up, reflecting lower interest and tax. To get here, we can’t repeat last year’s disappointing performance.
“The fundamentals of dairy remain strong.”
He says the world wants more dairy, and a growing middle class with high disposable incomes is looking for premium products.
“We believe we can create value from innovation, sustainability and efficiency.
“And our new strategy positions us well to leverage this.”
But at the same time, Hurrell says, the global economy is showing signs of slowing, with increasing trade tensions.
“Given our reliance on the international market, these are factors we continue to watch closely.”
On 2019-20 milk collection, he says milk collection forecast is similar to last year.
Fonterra has revised its milk price to a range of $6.55 to $7.55/kgMS – the fourth consecutive year of milk prices over $6/kgMS.
The Commerce Commission says connectivity options for rural New Zealanders are front-of-mind as it begins a formal investigation into the future of the copper network.
Grand Finalists have been selected, all regional finals have concluded, and the journey towards the FMG Young Farmer of the Year Grand Final is underway.
Hopes of NZ sheepmeat prices picking up anytime soon in the country's key export market of China looks highly unlikely.
Regional councils are welcoming the certainty for councils in today’s Resource Management Act (RMA) announcement by the Government.
ASB says the decision to sign on to the AgriZeroNZ joint venture came out of a wish to be a part of the solution.
Federated Farmers says changes announced to the Resource Management Act today mark the end of the war on farming.
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