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The New Zealand co-op forecasted improved margins across consumer and foodservice channels for FY24 and said there were indications that demand for milk powders will begin to return from early 2024.
Fonterra has announced its results for the financial year ending 31 July 2023, which delivered strong earnings and progress towards long-term goals.
Fonterra's after-tax profits have risen to $1.577 bln, with a full-year dividend of 50c per share and a final declared milk price of $8.22 per kilogram of milk solids
Business Scoop provides news and views on Business and Markets from New Zealand
Fonterra today announced its results for the financial year ending 31 July 2023, with full year reported earnings of 95 cents per share, reported profit after tax of $1.6 billion and a final 2022/23 season Farmgate Milk Price of $8.22 per kgMS.