fbpx
Print this page
Monday, 12 August 2019 12:17

Fonterra share price down 5%

Written by 
Fonterra share price down 5%

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.

More like this

Fonterra's Whareroa Wins Directors Award

Fonterra's Whareroa Wins Directors Award

Fonterra's Whareroa site took home the prestigious Directors Award at the co-op's 'Oscars of Manufacturing', while Clandeboye led the way with multiple wins at this year's Best Site Cup.

Smith V Fonterra

OPINION: To a chorus of crying greenies, and not a minute too soon, the Government has moved to put the courts back in their place through proposed amendments to the Climate Change Response Act 2002, intending to limit climate litigation claims such as Smith v Fonterra, in the interests of providing greater certainty for vital industry.

Popular Reads

Featured

Pāmu Opens Farm Gates for Summer Open Farm Days

Pāmu Opens Farm Gates for Summer Open Farm Days

State farmer Pāmu is opening its farm gates this summer in an effort to give the rural sector the opportunity to see how large-scale, multi-system farming is delivering productivity and profitability across New Zealand.

DairyNZ: Waikato Farmers Need Certainty on PC1 Rules

DairyNZ says Waikato farmers need certainty on Plan Change 1, but they say that certainty must be matched with practical, workable rules and a clear transition that doesn't get ahead of the new resource management system currently under review.

National

Machinery & Products