Fonterra predicts one of the best

Strong international dairy markets mean 2010/11 is shaping up as one of Fonterra’s best years ever in terms of returns to its farmer shareholders. (Click here to see Fonterra press release)

Fonterra has reported a half-year net profit of $293 million and confirmed its current forecast payout to farmers of $7.75 to $7.80 a kilo of milk solids in cash and dividends, which would put it above the existing record payout. The co-operative has recorded half-year revenue of $9.4 billion, 21% higher than the corresponding period last season.

Chief executive, Andrew Ferrier told Radio New Zealand the co-operative is expecting good returns for the next few years. (click here to view story)