News | Rural
31 Mar 2020 5:53
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  •   Home > News > Rural

    It's being suggested the Fonterra financials paint an even worse picture than the headlines

    It's being suggested the Fonterra financials paint an even worse picture than the headlines


    Fonterra
    Fonterra
    The dairy co-operative lost almost 200-million dollars last financial year - its first ever net loss.

    Andrew Kelleher from JMI Wealth says investors were expecting bad news.

    They knew the co-op had lost value in its Beingmate investment, and had to pay a 180-million dollar settlement to French company Danone .

    But Kelleher says looking underneath all of that, actual operational earnings were disappointing as well.

    He says its debt is up to 6.2-billion dollars, which is outside of borrowing guidance ratios, the return on capital is lower, and expenses are higher.

    © 2020 Newstalk ZB, NZCity


     Other Rural News
     28 Mar: During the coronavirus lockdown many farmers are still struggling with Mycoplasma bovis
     24 Mar: Heightened health protocols will cause only minor hold-ups to Fonterra's milk operations through the four-week lockdown
     18 Mar: Fonterra says demand's still strong for dairy in China, as it weathers its Covid-19 outbreak
     05 Mar: Longstanding Fonterra chairman, John Monaghan, is stepping down from the dairy co-operative's board
     19 Feb: The coronavirus outbreak is continuing to push down global dairy prices
     05 Feb: Global dairy prices have taken a hit, following the outbreak of the deadly coronavirus in China
     15 Jan: The Revenue Minister says he's asked officials to look at the tax issues around Mycoplasma bovis
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     Today's News

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    Entertainment:
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