Displaying items by tag: financial performance

A poor half-year financial result is forcing listed Canterbury milk processor Synlait to carry out “a strategic review” of its North Island assets, including its new plant at Pokeno and blending and canning facility in Auckland.

Fonterra chairman John Wilson has told shareholders the co-op delivered a strong performance for the year.

Fonterra chairman John Wilson has told shareholders the co-op delivered a strong performance for the year.

Fonterra chief executive, Theo Spierings, says improved second half results in the 2015 financial year were driven by a strong focus on cash and costs.

Canterbury-based independent milk processor Synlait Milk has reported a drop in profit, largely due to decreases in dairy prices.

The rural sector will need a major financial re-set as a result of the current low dairy prices, says the director of business, innovation and strategy at Massey University, Professor Hamish Gow.

Standards and Poors has placed Fonterra's 'A' long-term and 'A-1' short-term ratings on creditwatch negative, citing debt issues.

Companies in the Waikato Innovation Park, most of them farming-related, are reporting healthy financial growth, the park operator says.

The wet season currently affecting the southern part of the country is leaving many rural contractors and farmers under financial pressure, claims Rural Contractors NZ.

WESTLAND EXPECTS sales revenue of more than $750 million this season resulting in an operating surplus of $7.60-$8/kgMS before retentions.