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Fonterra predicts loss of $590-675m for year

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Christian Fernsby |
Fonterra
Fonterra   The announcement comes in advance of the annual results

Fonterra has announced it expects to make a reported loss of $590-675 million this financial year, taking into account likely write-downs.

Topics: Fonterra

The announcement comes in advance of the annual results due next month. Last year the dairy giant made its only ever loss of $186m.

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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