Displaying items by tag: Miles Hurrell

Fonterra is upping its game in nutrition science, announcing a new corporate ventures arm and a US$10 million investment in US biotech company Pendulum.

Fonterra has made a bumper third quarter profit on the back of soaring cheese and protein prices.

Fonterra says securing capital for future growth will depend on how its farmers manage emissions on-farm.

Demand for protein and cheese has helped Fonterra overcome inflationary pressures to post a solid half-year result.

As Fonterra revealed its interim results for 2023 this morning, two Greenpeace activists were arrested in a protest outside the co-operative’s Auckland offices.

Fonterra has posted a solid half year result, with a net profit of $546 million, up $182m from last year.

Softening global demand for milk has led Fonterra to downgrade its 2022-23 forecast milk price.

Fonterra says its remains committed to targeting “a significant” capital return to shareholders and unit holders next financial year.

Fonterra’s chief operating officer (COO) Fraser Whineray is leaving the co-op after three years in the
role.

Fonterra last week lifted its earning guidance for this season but narrowed its forecast farmgate milk price due to softening whole milk powder prices.