Skip to content
Industries

Fonterra Won’t Sell Stake in Australian Assets as Profit Climbs

  • Keeping Australian business may impact size of capital return
  • New Zealand dairy giant says full-year group revenue rose 11%

Fonterra Cooperative Group, the world’s biggest dairy exporter, said it has decided not to sell a stake in its Australian business and indicated this may impact on the size of its planned capital return to shareholders.

“We are still committed to targeting a significant capital return to our shareholders and unitholders,” Auckland-based Fonterra said Thursday when releasing its annual results. “The amount of any capital return will ultimately be determined on a number of factors including the successful completion of the divestment program as well as our ongoing debt and earnings levels.”