Fonterra‘s net profit fell 28.5 per cent to NZ$1.13 billion in the last fiscal year amid lower sales.
The dairy cooperative’s revenue from the sale of goods declined 7.2 per cent to $22.82 billion.
The cooperative declared a dividend of 55 cents per share for the fiscal year – the second largest payout since the supplier-owned company was formed.
“Our co-op is in good shape,” said Miles Hurrell, Fonterra CEO. “I’m pleased to have delivered another year of solid returns to farmer shareholders and unit holders.”
During the fiscal year, the company began exploring divestment options for its global consumer business and the Fonterra Oceania and Fonterra Sri Lanka businesses.
“As we can see from today’s result, the businesses in scope for potential divestment are performing well.”
