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Top related persons:
Nigel Marple - 1 Fonterra - 1 Miles Hurrell - 1 Hurrell - 1 Himanshi Akhand - 1 John Biju - 1 Shounak Dasgupta - 1 Shweta Agarwal - 1
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Rapa Hamilton China Zealand Auckland Bengaluru
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REUTERS - 1 Fund - 1 NZ - 1 Zealand - 1 Thomson - 1

Search resuls for: "Hurrell"


4 mentions found


☆ Fonterra's profit more than doubles on demand for dairy ingredients, shares rise
  + stars: | 2023-09-20 | by ( ) www.reuters.com   time to read: +2 min
The world's biggest dairy exporter also benefited from higher product pricing and strong demand for its dairy ingredients and foodservice channel. "We acknowledge that across the year, farmers will continue to feel the pressure from high input costs and a reduced farmgate milk price," CEO Miles Hurrell said. The dairy giant also expects inflationary pressures and farmgate milk price outlook to impact its production levels. That compares with normalized earnings of 80 NZ cents per share in fiscal 2023. The Auckland-based company declared a final dividend of 40 NZ cents per share, compared with 15 NZ cents declared last year.
Persons: Nigel Marple, Fonterra, Miles Hurrell, Hurrell, Himanshi Akhand, John Biju, Shounak Dasgupta, Shweta Agarwal Organizations: REUTERS, Fund, NZ, Zealand, Thomson Locations: Rapa, Hamilton, China, Zealand, Auckland, Bengaluru
☆ New Zealand's Fonterra profit jumps 50% on stronger dairy prices
  + stars: | 2023-03-15 | by ( ) www.reuters.com   time to read: +1 min
March 16 (Reuters) - New Zealand's Fonterra Co-operative Group Ltd (FCG.NZ) on Thursday said first-half profit jumped 50% due to higher prices for its dairy products and strong margins across its cheese and protein division. The co-operative, which controls almost a third of global dairy trade, also said it expects to earn between 55 and 75 NZ cents per share for fiscal 2023, from an earlier forecast of 50 to 70 NZ cents per share. Favourable margins in the dairy co-operative's protein portfolio during the half year offset lockdown-driven weakness in demand from China. The world's biggest dairy exporter reported normalised net profit after tax of NZ$546 million ($338.19 million) for the six months ended Dec. 31, compared with NZ$364 million a year earlier. Fonterra declared an interim dividend of 10 NZ cents per share, compared with 5 NZ cents per share declared last year.
☆ NZ's Fonterra cuts milk price forecast as demand weakens
  + stars: | 2022-12-07 | by ( ) www.reuters.com   time to read: +1 min
Dec 8 (Reuters) - New Zealand's Fonterra Co-operative Group Ltd (FCG.NZ) on Thursday lowered its farmgate milk price forecast range for the second time for the 2022/23 season on higher costs and softening demand for whole milk powder. The world's biggest dairy exporter now expects to pay farmers between NZ$8.50 and NZ$9.50 per kilogram of milk solid (kgMS), compared with NZ$8.50 to NZ$10.00 per kgMS it forecast in August. Chief Executive Officer Miles Hurrell said demand for whole milk powder has weakened, particularly in Greater China, offset by increased participation from other regions. Fonterra's global milk supply from key exporting regions declined for the 12 months to September, while its New Zealand milk collections dropped 3% season-to-date. The New Zealand dairy giant's first-quarter earnings before interest and taxes rose to NZ$368 million ($234 million), compared to prior year's NZ$190 million.
☆ New Zealand's Fonterra appoints Neil Beaumont as CFO
  + stars: | 2022-11-08 | by ( ) www.reuters.com   time to read: 1 min
Nov 9 (Reuters) - New Zealand's Fonterra (FCG.NZ) on Wednesday named Neil Beaumont as its chief financial officer (CFO), to succeed Marc Rivers who announced his exit earlier this year. Chris Rowe, the acting CFO, will continue until Beaumont steps into the role in early February 2023, the company said. Beaumont has previously held senior roles at mining giant BHP Group (BHP.AX) in Chile and Australia and at auditing firm KPMG. Fonterra Chief Executive Officer Miles Hurrell said, Beaumont is "an experienced global finance leader whose expertise in strategic implementation will be a real asset to our management team." Reporting by Roushni Nair in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.
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