Fonterra Co-operative Group Limited (NZX:FSF) has updated on milk price and announced its business performance today.
The data is for nine months to 30 April 2020. Few highlights are:
- Total Group Earnings Before Interest and Tax (EBIT): NZD 1.1 billion, up from NZD378 million
- Total Group normalised EBIT: NZD 815 million, up from NZD 514 million
- Total Group normalised gross margin: NZD 2.5 billion, up from NZD 2.2 billion
- Normalised Total Group operating expenses: NZD 1,665 million, down NZD 148 million from NZD 1,813 million
- Free cash flow: NZD 698 million, up NZD 1.4 billion
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