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Fonterra predicts loss of $590-675m for year

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Christian Fernsby ▼ | August 12, 2019
Fonterra has announced it expects to make a reported loss of $590-675 million this financial year, taking into account likely write-downs.
Fonterra
Fonterra   The announcement comes in advance of the annual results
The announcement comes in advance of the annual results due next month. Last year the dairy giant made its only ever loss of $186m.

Topics: Fonterra

Fonterra chief executive Miles Hurrell said as a result, it would not pay a dividend for the 2019 financial year. This is a first for the co-op since 2001-2.

The write downs are on its operations in Brazil, China, Australia and New Zealand.

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