Tag Archives: Fonterra

First NZ Capital upgraded its recommendation for units in Fonterra Cooperative Group’s shareholders fund to ‘outperform’ from ‘neutral’, saying a short-term pullback in the price is a buying opportunity. At the same time, the brokerage lowered its earnings forecasts for Fonterra for the coming three years and reduced its 12-month target price on the units to $8.30 from $8.50 after …

The New Zealand dollar is little changed after Fonterra Cooperative Group hiked its 2014 forecast payout and ahead of a statement today which may provide further clues on when the US Federal Reserve is likely to pare back monetary policy stimulus. The kiwi was little changed at 79.85 US cents, from 79.92 cents at the 5pm market close in Wellington …

Fonterra Cooperative Group, the world’s biggest dairy exporter, has lifted its forecast milk payout to farmers by 50 cents in the 2014 season as global supply remains constrained and as a weaker local currency bolsters export returns. The Auckland-based company expects to pay $7.50 per kilogram of milksolids and an estimated dividend of 32 cents per share, it said in …

Fonterra Cooperative Group, the world’s largest exporter of dairy products, said earnings would miss its forecast by about 7.3 percent because of the drought in New Zealand and intense competition in Australia. Earnings before interest, tax and one-time items would be about $1 billion in the year ending July 31, down from the $1.079 billion forecast in its Shareholders’ Fund …

Fonterra Cooperative Group, the world’s largest exporter of dairy products, said this year’s earnings will miss forecast by about 7.3 percent, spurring a sell-off in the company’s listed fund. Units in the Fonterra Shareholders’ Fund are the second-worst performer on New Zealand’s benchmark index today, dropping 3.7 percent to $7.20, crimping their gain so far this year to 6.3 percent. …

Fonterra Cooperative Group, the world’s biggest dairy exporter, cut the price of its Anmum-branded products in China as the local regulator looks at potential price manipulation by major foreign firms selling into the world’s most-populous nation. The Auckland-based cooperative will trim 9 percent from its Anmum maternal health products in mainland China from next month “to better meet consumer needs …

Fonterra Cooperative Group, the world’s biggest dairy exporter, named Lukas Paravicini as chief financial officer, replacing Jonathan Mason who retires at the end of September. Paravicini will join Fonterra in September after 22 years with Nestle, Fonterra said in a statement. He was Nestle Professional Europe general manager for the past two years and previously held senior finance positions in …

Fonterra Cooperative Group, the world’s biggest dairy exporter, has scaled back applications from its farmers to sell milk at a guaranteed price in the 2013/2014 season after being overwhelmed by demand. In a pilot scheme announced last month, Fonterra offered to pay $7 per kilogram of milk solids, matching its initial forecast payout, for those farmer-shareholders wanting to lock in …

Fonterra Cooperative Group, the world’s biggest dairy exporter, has been contacted by the China National Development and Reform Commission as part of an investigation into milk powder prices in the world’s most populous nation. The Auckland-based company is cooperating fully with the Chinese regulator, which is reviewing a wide range of consumer businesses in the Chinese dairy industry, Fonterra said …

Fonterra Cooperative Group, the world’s biggest dairy exporter, plans to spend $27 million to double storage capacity at its Te Rapa site, which is currently under-capacity. The Auckland-based cooperative expects to save an annual $5 million in operating costs from a new dry store at the Waikato site, where its base capacity it at just 60 percent of standard season …