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BRIEF-Fonterra reports FY net profit after tax of NZ$506 mln, up 183 pct

Published 24/09/2015, 06:59 am
© Reuters.  BRIEF-Fonterra reports FY net profit after tax of NZ$506 mln, up 183 pct

Sept 24 (Reuters) - Fonterra Shareholders' Fund:

* FY NPAT NZ$506 million, up 183%

* FY revenue NZ$18.8 billion, down 15%

* "Dividend of $0.25 per share comprises an interim dividend of NZ$0.10 and a final dividend of NZ$0.15"

* "Co-operative will pay a final cash payout of NZ$4.65 for 2015 season for a 100 per cent share-backed farmer"

* Lifting its forecast farmgate milk price for the 2015/16 season to NZ$4.60 per kgms, an increase of 75 cents

* Reduced its New Zealand forecast production volumes by at least five per cent compared with the previous season

* "With capacity now more in line with current expectations of milk growth, the co-operative would have a reduced capex spend in 2016 of NZ$900 million"

* "Forecast total payout available to farmers in 2015/16 season now NZ$5.00 - NZ$5.10 per kgms"

* "On-going review targeting one-off cash savings and recurring cash savings from across business including procurement, operations, supply chain and sales mix"

* "Current global prices are unsustainable"

* "Farmer shareholders have been able to apply to receive loan of additional 50 NZ cents per share-backed lg of milk solids for production through to December"

* "On-going review cash savings expected to build over next 24 months and, as they are realised, will impact milk price, earnings, cash flow and the balance sheet"

* "Now expect milk production to be down by more than 5 per cent for the season"

* "Looking ahead, uncertainty means that world markets are likely to be difficult in the medium-term"

* All figures in NZ$

* Source text for Eikon ID:nNZW6wqK1C

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