Fonterra | Fonterra’s earnings off to good start

Fonterra has achieved earnings of 16c a share for the first quarter of FY2025, a good start on the forecast earnings guidance of 40-60c over the full year.

Co-op reports Q1 profit after tax of $263 million.

Fonterra has achieved earnings of 16c a share for the first quarter of FY2025, a good start on the forecast earnings guidance of 40-60c over the full year.

The Q1 profit after tax was $263 million.

Chief executive Miles Hurrell said the underlying operating profit is expected to be stable as the higher cost of milk in the second half would be offset by improved sales volumes, product mix and pricing.

“It also reflects the change in Fonterra’s tax status, which is effective from this financial year and will reduce our reported earnings per share.

“This is a strong start to the year, especially when taking into consideration the higher cost of milk and narrower price relativities when compared to this time last year.

“While these factors have impacted our gross margins, this has been partially offset by improved product mix, with a greater allocation of milk to higher value products in our foodservice and consumer channels.”

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