Displaying items by tag: Miles Hurrell

Fonterra's 2025/26 financial year is off to a strong start, with a first quarter group profit after tax of $278 million- up $15m on the previous year.

Fonterra has dropped its forecast milk price mid-point by 50c as a surge in global milk production is putting downward pressure on commodity prices.

Fonterra chief executive Miles Hurrell says the 2025 financial year has proven to be one of the co-op’s strongest years yet in terms of shareholder returns.

Fonterra chief executive Miles Hurrell says the sale of the co-op’s consumer and associated businesses to Lactalis represents a great outcome for the co-op.

Fonterra has increased its 2024/25 forecast Farmgate Milk Price from $10/kgMS to $10.15/kgMS.

A record $10/kgMS opening forecast milk price for the new season means more money into Fonterra farmers pockets early, says Federated Farmers dairy chair Richard McIntyre.

Fonterra has announced an improved third quarter performance – with a profit after tax of $1.15 billion, up $119 million on the same period last year.

Farmgate milk price could stay above $10/kgMS for two consecutive seasons, however, Fonterra is cautioning farmer shareholders to be wary.

Fonterra has reported a solid half-year result – an 8% lift in profit after tax to $729 million.

Fonterra has reaffirmed a forecast milk price mid-point of $10/kgMS for its farmer shareholders, with just over two months of the 2024-25 season left to run.