|Day's range||5.94 - 5.96|
|52-week range||5.30 - 6.39|
|PE ratio (TTM)||11.62|
|Earnings date||21 Mar 2017 - 25 Mar 2017|
|Dividend & yield||N/A (N/A)|
|1y target est||N/A|
Fonterra Co-operative Group Limited today announced it has exported record volumes for the month of December 2015. Export data for the Co-operative in December confirms the new record for a single month’s volume, with more than 300,000 MT shipped to its global markets. Fonterra Managing Director for Global Ingredients, Kelvin Wickham said the new record reflected the ongoing successful performance of Fonterra’s direct-to-customer ingredients, consumer and foodservice sales despite the tough global market environment.
Fonterra Co-operative Group Limited today announced it will sell its 50 per cent interest in DairiConcepts, the Co-operative’s US joint venture with Dairy Farmers of America (DFA). DFA will purchase Fonterra’s 50 per cent interest on 31 December 2015 for a price of approximately NZD$196 million. The DairiConcepts partnership was established in 2000 when Fonterra contributed its US dairy/cheese flavours business and DFA contributed a number of cheese and cheese-powder assets.
Fonterra Co-operative Group Limited is increasing its forecast earnings per share range for the current financial year to 45-55 cents. With a forecast Farmgate Milk Price of $4.60 this lifts the total available for payout to $5.05-5.15 per kgMS and would currently equate to a total forecast cash payout of $4.95-5.00 per kgMS after retentions. Fonterra is also increasing the rate at which farmers are paid the Co-operative Support of 50 cents per kgMS, with the total amount paid up to December going from 18 cents to 25 cents.