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Displaying 191 - 200 of 286 items.
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Auckland Airport to build DC for Fonterra Brands

Auckland Airport is to build a state-of-the-art new distribution centre for Fonterra’s New Zealand consumer business (Fonterra Brands New Zealand), the two companies announced today. Fonterra Brands New Zealand (FBNZ) is scheduled to occupy the new premises under a long-term lease from March 2017. The 11,000sqm facility – which will enable FBNZ to consolidate multiple existing warehouses into a single, multi-temperature space – will be built on Timberley Road as part ... more

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Dairy prices up again

Dairy product prices rose overnight the second advance in the seven Global Dairy Trade auctions held so far in 2016. The GDT price index rose 2.1 percent. The average price slipped to US$2,188, down from US$2,190 at the previous auction three weeks ago. Some 22,682 tonnes of product was sold, up from 20,406 tonnes at the previous auction three weeks ago. Whole milk powder rose 1.5 percent to US$2,013 a tonne. Rennet casein climbed 11.8 percent to US$4,438 a tonne, while cheddar ... more

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Fonterra signals early dividend payment to support farmers

Fonterra Co-operative Group Limited has announced it intends to pay its forecast final dividend earlier, to support farmers at a time when on-farm cash flows are extremely tight. Chairman John Wilson said the forecast total dividend for the current financial year is 40 cents per share. “The Board today declared a 20 cent interim dividend which will be paid in April. We intend declaring the remaining 20 cents per share in two dividends of 10 cents in May and 10 cents ... more

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Fonterra announces 2016 interim results

Fonterra Co-operative Group Limited today announced a good performance in the first half of the current financial year, with normalised earnings before interest and tax (EBIT) of $665 million up 77 per cent on the comparable period, and net profit after tax of $409 million up 123 per cent. Chairman John Wilson said that the supply and demand imbalance in the globally traded dairy market has brought prices down to unsustainable levels for farmers around the world, and particularly in ... more

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Zespri announces more SunGold licence at start of 2016 kiwifruit season

At the start of what is set to be a record-breaking 2016 season, Zespri is positioning itself for the future by announcing the release of a further 400 hectares of its gold kiwifruit variety SunGold this year. In making the decision to release the additional licence this year, the Zespri Board signalled that – dependant on the product’s performance and future global demand – an additional 400 hectares of SunGold licence will also be released each year in 2017, 2018 and ... more

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Zespri lifts profit expectations

Zespri has upgraded full-year profit guidance after deciding it doesn't need to retain an accounting provision related to a Chinese subsidiary that was found guilty of smuggling in 2013. The Tauranga-based kiwifruit marketer said profit for the year to March 31 was expected to be in the range of $32 million to $35 million, up from a previous forecast of between $19 million and $22 million. Explaining the upgrade, the company said a $13.9 million provision entered in 2012/2013 relating ... more

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Dairy prices fall against market expectations

World dairy prices went against market expectations and registered a 2.9 per cent decline at the latest GlobalDairyTrade auction. Price falls were across the board, but wholemilk powder prices - which make up about 75 per cent of Fonterra's farmgate milk price - were down by just 0.8 per cent to an average price of US$1,971 a tonne. Futures market pricing suggested a 2 per cent increase in the index, and a 2 per cent rise in wholemilk powder prices. Prices for another important ... more

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Fonterra Eltham - filling billions of burgers worldwide

The first slices of cheese have rolled off the new slice on slice line at Fonterra Eltham, in Taranaki, with the plant set to produce enough cheese this year to fill more than three billion burgers. The first cheese marks the successful completion of the 10 month build to install two new lines that will double the site’s sliced cheese production. The new individually wrapped sliced cheese line was completed last year. Fonterra Managing Director Global Operations Robert ... more

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Counting chickens: Tegel's value estimated ahead of sharemarket listing

Analysts have valued chicken company Tegel at around $700 million ahead of its planned sharemarket listing. New Zealand's largest poultry producer is currently wooing potential investors, having conducted site tours around its facilities last week. Tegel has four major processing plants and around 1700 employees. While it has experienced strong export growth to the likes of Asia and the Middle East in recent years, its private equity owners have been eyeing up a sale for some ... more

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Alliance sells direct to Spanish supermarket chain

Meat exporter Alliance has signed a deal worth $30 million to sell lamb directly to Spanish supermarket chain Mercadona. Almost 3000 tonnes of frozen lamb marketed under the Pure South brand, is being processed into middle and shoulder cuts, packaged and exported to the giant chain. Alliance general manager marketing Murray Brown said the co-operative was able to take costs out of the supply chain by dealing directly with the retailer. "We are hoping to move from frozen to ... more

Displaying 191 - 200 of 286 items.
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