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Fonterra Co-Operative Group Ltd (FCG.NZ)

FCG.NZ on New Zealand Stock Exchange

5.98NZD
28 Jun 2017
Change (% chg)

$-0.01 (-0.17%)
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Latest Key Developments (Source: Significant Developments)

Fonterra Co-operative Group announces global dairy update for June 2017
Wednesday, 21 Jun 2017 04:30pm EDT 

June 22 (Reuters) - Fonterra Co-operative Group Ltd ::Fonterra Co-Operative Group Limited - global dairy update June 2017.Co's New Zealand milk collection for the season ended 31 May 2017 was 1,526 million kgms, down 3% on last season.Total New Zealand milk production in April was up 6% compared to the same month last year.Forecast Fonterra Milk Collection in New Zealand for the 2017/18 season is 1,575 million kgms..  Full Article

Bellamy's Australia announces binding agreement to further reset its supply contract with Fonterra Australia
Monday, 12 Jun 2017 08:01pm EDT 

June 13 (Reuters) - Bellamy's Australia Ltd -:Announces ‍a binding agreement to acquire Camperdown Powder Pty Ltd​.Total consideration of $28.5 million to acquire a 90% interest in a newly formed entity that will hold issued capital of camperdown.Fully underwritten $60.4 million, 5 for 38 pro rata accelerated non-renounceable entitlement offer of new ordinary shares in bal.Recent trading performance has been in line with expectations.A revision in 2h17 reported ebit guidance from a profit of $9.0-13.0 million to a loss of $9.5-14.0 million.Binding agreement to further reset its supply contract with fonterra australia pty ltd for a one-time consideration of $27.5 million​.2H17 net sales are forecast to be above mid-point of guidance $105-120 million.  Full Article

Fonterra lifts 2016/17 forecast farmgate milk price by 15 cents
Tuesday, 23 May 2017 04:31pm EDT 

May 24 (Reuters) - Fonterra Co-operative Group Ltd :Fonterra lifts farmgate milk price and updates on earnings.Fonterra co-operative group today increased its 2016/17 forecast farmgate milk price by 15 cents to $6.15 per kgms.Confirmed its forecast earnings per share range of 45 to 55 cents for 2017 FY, as it continues to target a FY dividend of 40 cents per share.Stronger production in March and April has partly offset lower peak milk production and collections are now expected to be down 3 pct for season.Is forecasting an improved farmgate milk price of $6.50 per kgms for 2018 season."We are on track to exceed our target of moving an additional 400 million lme into higher value products by year-end"."Capital expenditure is in line with expectations and expected to reduce in 2017/18 year".Gearing is forecast to be in target range of 40 pct -45 pct at conclusion of year."While there is work to be done in final quarter outlook for earnings remains achievable".Revenue of $13.9 billion for first nine months of 2016/17 is up 8 pct on same period last year, as a result of higher milk prices.All figures in NZ$.  Full Article

Fonterra says NZ milk production in February was down 3 pct
Thursday, 27 Apr 2017 12:08am EDT 

April 27 (Reuters) - Fonterra ::Total New Zealand milk production in February was down 3 pct compared to the same month last year.Fonterra's milk collection across New Zealand for 10 months to 31 March reached 1,342 million kgms.Fonterra's milk collection across Australia for nine months to 31 March reached 97 million kgms, 2.1 million kgms lower than last season."We are well on track to achieve our target of an additional 400 million LME to higher value products by year end"."China dairy imports increased 41 pct, or 58,000 mt, in February".  Full Article

Fonterra completes allotment of co-operative shares to shareholders under DRP
Wednesday, 19 Apr 2017 09:14pm EDT 

April 20 (Reuters) - Fonterra Co-operative Group Ltd :completed allotment of co-operative shares to shareholders under dividend reinvestment plan for 2017 interim dividend..issue of new shares under dividend reinvestment plan at issue price of nz$5.902.  Full Article

Fonterra Co-Operative Group confirms forecast farmgate milk price
Thursday, 23 Mar 2017 09:38pm EDT 

Fonterra Co-operative Group Ltd : Global dairy update march 2017 . Fonterra confirmed its forecast farmgate milk price under the quarterly dira update at $6.00/kgms. . Total new zealand milk production for January was down 1% compared to the same month last year . Australia production in December decreased 4% compared to the same month last year . Total New Zealand dairy exports in December decreased 4% compared to the same month the previous year .Fonterra’s forecast New Zealand milk collection for the 2016/17 season has been revised to 1,515 million kgms.  Full Article

Fonterra Co-Operative appoints Scott St John as chairman of milk price panel
Tuesday, 21 Mar 2017 11:40pm EDT 

Fonterra Co-operative Group Ltd : Milk price panel appointments . Scott St John has been appointed to milk price panel replacing Clinton Dines, from 1 April 2017 . Ashley Waugh has been appointed to milk price panel to replace Michael Spaans who stepped down from Fonterra board . Jackson remains as a member of milk price panel .St John has also been appointed as chairman of panel replacing David Jackson.  Full Article

Fonterra posts HY net profit after tax of NZ$418 mln, up 2 pct
Tuesday, 21 Mar 2017 03:31pm EDT 

Fonterra: Interim dividend of 20 cents per share - to be paid in april . Sees 2017 forecast farmgate milk price $6.00 per kgms . Sees 2017 forecast cash payout $6.40 after retentions . HY net profit after tax (NPAT) NZ$418 million, up 2% . HY revenue $9.2 billion, up 5% . "See some challenges and opportunities ahead in second half" . FY revised forecast earnings per share range of 45 to 55 cents . For FY "continuing to have confidence in achieving a target dividend of 40 cents per share" . "Are well on track to achieve our target of an additional 400 million LME to higher value products by year end" . "Fundamentals of dairy are strong but there will be ongoing volatility in our global markets" . "Co-operative will continue to offer a dividend reinvestment plan" .All figures in NZ$.  Full Article

Fonterra confirms 2016/17 forecast farmgate milk price of NZ$6 per kgms
Wednesday, 22 Feb 2017 02:31pm EST 

Fonterra Co-operative Group Ltd : Fonterra confirms 2016/17 forecast farmgate milk price . Fonterra co-operative confirmed the forecast farmgate milk price of $6.00 per kgms announced in November . "Fonterra also announced that it would increase the monthly advance rate it pays to farmers." . "Global outlook for dairy remains positive" . When combined with forecast EPS range for 2017 of 50 to 60 cents, total pay-out available to farmers in current season is forecast to be $6.50 -$6.60 before retentions . "The advance rate for february, paid in march, has increased to $4.85 per kgms." . Originally expected to be down 7 per cent for the season, New Zealand collections forecast has now improved to a five per cent decline on last season . "Global dairy update for Feb reported that the co-operative's New Zealand milk collections were showing signs of recovery" . Fonterra also announced that it would increase the monthly advance rate it pays to farmer .All figures in NZ$.  Full Article

Fonterra says milk collection across Australia for six months to Dec 31 reached 65 mln kgms
Wednesday, 11 Jan 2017 08:31pm EST 

Fonterra Co-operative Group Ltd : in December the significant decrease in Fonterra New Zealand milk collections continued, down 5% on the same month last year. .milk collection across Australia for the six months to 31 December reached 65 million kgms, 7.6% lower than December last season.  Full Article

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