New Zealand dairy giant Fonterra today (22 September) reported a 13% rise in annual profits thanks to growth from its international operations.

Fonterra posted after-tax profit of NZ$771m (US$602.9m) for the year to 31 July. Revenue climbed 19% to NZ$19.9bn, which Fonterra said was a “record” for the company.

It pointed to a “bumper year” for dairy exports and “strong contributions” from its overseas businesses. Fonterra’s dairy shipments equalled 2.1m tonnes, another record, it said.

Fonterra reported an “improved performance” from its ingredients arm and its overseas consumer businesses. It added, however, that profits from its consumer division in Australia and New Zealand “were down in a tough market environment”.

CEO Andrew Ferrier said: “Although the business was impacted by higher dairy ingredient prices and a fragile global economy, our underlying profitability showed solid growth over last year due to improvements within our ingredients businesses and the strength of our consumer brands.”

Chairman Henry van der Heyden said the record financial peformance and record milk production meant Fonterra could hand out milk payments and dividends of NZ$10.6bn – another record. 

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.