fbpx
Print this page
Tuesday, 31 May 2022 09:55

Fonterra on track to deliver $1bn capital

Written by  Staff Reporters
Fonterra chief financial officer Marc Rivers. Fonterra chief financial officer Marc Rivers.

Fonterra remains on track to deliver around $1 billion of capital to farmer shareholders and unit holders in two years.

The co-op is continuing the ownership review of its Australian business and the divestment for its Chilean business, Soprole, is underway.

Fonterra chief financial officer Marc Rivers says both processes are running smoothly.

He expects a lot of interest in the Soprole business which has been performing strongly.

The Australian business review is more complex, he says, given its connection to Fonterra's New Zealand business.

Rivers says the co-op is not rushing to make a decision on both businesses.

"We're taking our time to ensure the best outcomes for both businesses and remain confident on delivering on our intention to return to our shareholders and unit holders by FY24," he says.

More like this

Fonterra posts solid results

Fonterra has delivered a solid half-year result, thanks to higher margins and sales volumes across the co-op's diversified product and category mix.

Featured

Dairy sheep and goat turmoil

Dairy sheep and goat farmers are being told to reduce milk supply as processors face a slump in global demand for their products.

Hurry up and slow down!

OPINION: We have good friends from way back who had lived in one of our major cities for many years.

Editorial: Passage to India

OPINION: Even before the National-led coalition came into power, India was very much at the fore of its trade agenda.

National

Govt urged to reduce ETS units

The Climate Change Commission wants the new Government to reduce NZ Emissions Trading Scheme (ETS) auction volumes as son as…

Dairy sheep, goat woes mount

Dairy sheep and goat farmers are being told to reduce milk supply as processors face a slump in global demand…

Machinery & Products

All-terrain fert spreading mode

Effluent specialists the Samson Group have developed a new double unloading system to help optimise uphill and downhill organic fertiliser…

Can-Am showcases range

Based on industry data collected by the Motor Industry Association, Can-Am is the number one side-by-side manufacturer in New Zealand.