Reported 1 day ago
New Zealand's dairy company Fonterra has revised its annual profit forecast upwards after reporting a significant third-quarter profit increase, driven by its ingredients channel and consumer operations. The company's shares rose by 0.9% to NZ$4.6. Fonterra anticipates stable market demand and predicts a farmgate price of NZ$10 per kilogram of milk solids for the upcoming season. CEO Miles Hurrell noted ongoing geopolitical uncertainties, but expressed optimism about future earnings. The expected earnings per share for the year-end has been adjusted to between 65 and 75 cents, surpassing earlier projections.
Source: YAHOO