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Fonterra’s share price has dropped following a bleak market update on its 2018-19 financial results.
Read: Fonterra is signalling a full-year loss of up to $675 million for 2018-19.
At start of trading day on the NZ Stock Exchange this morning, the share was valued at $3.74 each. By midday the shares had lost 13c or nearly 5% value and hovering around $3.63/share.
Fonterra shares have taken a battering over the past 18 months. In January last year, each share was priced at $6.60. In the last 12 months it has lost 25% of its value.
Fonterra informed the markets this morning that it was bracing for a full-year loss of up to $675 million for 2018-19.
The co-op has also announced that no dividend will be paid for 2018-19; it has also written down $820m to $860m in asset value.
The co-op will announce its full-year results on September 12. However, it’s now clear that the co-op will deliver its second straight annual loss. Last year, the co-op declared its first ever loss of $196m.
The needs for animal protein in discussions on future nutritious and sustainable food systems seems to be missing from much of the rhetoric, says Jeremy Hill, Fonterra’s chief scientist and technology officer.
A group of Fonterra farmers want an independent review of the Fonterra shareholders council following the co-op’s financial debacle.
A candidate for the upcoming Fonterra board election says the co-op needs to get farmers back on board and regain their trust.
Fonterra has appointed a NZ business leader to its newly created role of chief operating officer.
Farmers are flabbergasted to learn that Fonterra borrowed money to pay dividends over the last few years.
A scholarship for up to five students each year, studying Massey University’s Bachelor of Horticultural Science degree has been launched by kiwifruit exporter Zezpri.
The needs for animal protein in discussions on future nutritious and sustainable food systems seems to be missing from much of the rhetoric, says Jeremy Hill, Fonterra’s chief scientist and technology officer.
How we take the farming community with us and what trajectory we are on for climate change response is all open for discussion, says Dr Rod Carr, the new chair-designate of the Climate Change Commission.
The new chair of the New Zealand Dairy Industry Awards (NZDIA) Trust wants to use the awards to showcase NZ dairy to the world.
Biosecurity Minister Damien O’Connor is warning travelling Kiwis to be vigilant as the high-season for the crop-eating brown marmorated stink bug (BMSB) is under way.
Taranaki farmer Mel Poulton will work with New Zealand’s special agricultural trade envoy, Mike Petersen, over the next three months in preparation for taking over his role on January 1.
Is food vegan simply because it doesn’t come from a cow? This question has puzzled one in five Britons.
The Fonterra shareholders council announced last week that elections will take place in 10 of its 25 wards.
