date:Sep 26, 2013
Fonterra has announced its 2013 results. Sales volumes were flat at 4 million metric tonnes. Revenues, at NZ$18.6 billion, were down 6% - but net profit was up 18% to $376 million. The Co-operative announced a cash payout of NZ$6.16 for the 2013 year for a 100% share-backed farmer, comprising a Farmgate Milk Price of $5.84 per kgMS and a dividend of 32 cents per share.
Chairman John Wilson said that while the Payout was higher than forecast at the beginning of the season, it was 4% down on the