Fonterra releases strong half year results underpinned by stronger margins and volumes
New Zealand's Fonterra Co-operative Group and its farmers and cows have had a great six months to the end of last December with a 23% lift in earnings..
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Fonterra Shareholders’ Fund
The Fonterra Shareholders’ Fund provides investors an opportunity to invest in the performance of Fonterra Co-operative Group, a New Zealand based Co-operative.
The Fonterra Shareholders’ Fund (Fund) is a registered managed investment scheme under the Financial Markets Conduct Act 2013.
Units are listed on the NZX Main Board and on the ASX, and are able to be freely bought and sold in the same way as any other listed security.
Outside investors who are not allowed to hold shares in Fonterra are able to invest in units in the Fund which gives them access to economic rights (such as distributions and capital movements), similar to those of a share.
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News
Fonterra raises earnings forecast amidst global price surge
Fonterra (ASX:FSF), the world's largest producer and exporter of dairy products, has increased its earnings forecast and expected payments to New Zealand farmer customers in response to rising global prices.
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Trans-Tasman Tidings: TWR, FSF
Some news wafted across the Tasman on Thursday from a couple of our ASX-listed Kiwi siblings, insurance group Tower and dairy major Fonterra.
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Trans-Tasman Tudbuts: DOW, FSF, AIZ
Thursday's ASX trading session turned out to be a busy one for trans-Tasman stocks, with Downer EDI, Fonterra and Air New Zealand each making headlines.
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No Local Shake-Out at Fonterra After All
The world’s biggest dairy company, New Zealand’s Fonterra, will keep its Australian operations, deciding not to sell after having them on the market for the best part of a year.
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Analyst Views
FSF – UBS rates the stock as Neutral
The Neutral rating is retained, especially as the key upside potential from the proposed AMENA disposal is currently more than 12 months away. The target falls to NZ$4.30 from NZ$5.
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FSF – Macquarie rates the stock as Underperform
First half normalised net profit was up 43%. Macquarie retains an Underperform rating and raises the target to NZ$4.25 from NZ$3.74.
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FSF – Credit Suisse rates the stock as Neutral
Fonterra Shareholders Fund achieved the top end of guidance in FY20. Credit Suisse acknowledges the company still needs to make allowance for the pandemic-related uncertainty that is affecting the food services business.
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FSF – UBS rates the stock as Neutral
UBS assesses the third quarter result was "respectable", underpinned by higher margins across all divisions and lower operating costs.
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FSF – Credit Suisse rates the stock as Neutral
Credit Suisse observes the company has made a solid start to FY20, although an increasing milk price could put pressure on earnings, which remains subject to volatility.
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