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Highlights
- New Zealand is globally acclaimed for supplying a wide range of nutritional dairy products.
- Fonterra Co-operative Group provides a global dairy update.
- Synlait Milk posts impressive first half-year results.
The dairy sector has been the backbone of New Zealand for years as the country's climate, soil, large and green pastures, and abundant water supply create a perfect environment for the nourishment of dairy animals.
Moreover, the country boasts lower carbon footprints in its milk production and supplies top-quality dairy products to a large number of nations across the globe.
With this overview, let us look at the latest updates from the three NZX-listed dairy stocks- The a2 Milk Company Limited (NZX:ATM), Fonterra Co-operative Group Limited (NZX:FCG) and Synlait Milk Limited (NZX:SML).
Source: © 2022 Kalkine Media® data source- EODHD/Others
The a2 Milk Company Limited (NZX:ATM; ASX:A2M)
The a2 Milk Company Limited has appointed Sandra Yu in the capacity of an independent non-executive director. She has earlier held various senior executive roles in several renowned companies.
Must Read: ATM, SCL & 2 other popular agri & dairy stocks on investors’ radar
Meanwhile, Bessie Lee, an independent non-executive director, has stepped down from the Board.
On 5 April, at the time of writing, ATM was down by 1.59% at NZ$5.560.
Fonterra Co-operative Group Limited (NZX:FCG)
Fonterra Co-operative Group Limited has recently provided a Global Dairy Update for March 2022, wherein it has stated that its monthly production across all its regions continued to decline. Also, while monthly exports from Australia climbed, those from the US and the had EU dipped.
Do Read: Fonterra (NZX:FCG) stares at NZ$10M loss as it exits Russian business
However, China, Asia, and Latin America’s monthly imports grew, majorly on account of higher demand for cheese and whey, among others.
Also, Fonterra has bagged an award at the Gulfood Innovation Awards, which is the largest food and beverage sourcing event across the globe.
Further, FCG has revealed that in May, it will welcome the country’s first modern electric milk tanker.
On 5 April, at the time of writing, FCG was gaining by 0.67% at NZ$3.000.
Synlait Milk Limited (NZX:SML)
Synlait Milk Limited, a few days ago, has released its H122 performance, wherein both its NPAT and EBITDA clocked NZ$27.9 million and NZ$68.4 million, respectively, mainly on account of a one-off gain on the sale of its Auckland-based facility.
Interesting Read: Here’s why Synlait Milk’s (NZX:SML) shares gained 3.32% today
Also, the dairy processor expects solid profitability in FY22, to be driven by improved infant base powder volumes, and tighter management of its Ingredient business, among others.
On 5 April, at the time of writing, SML was up by 2.08% at NZ$3.440.
Bottom Line
NZ’s dairy sector is marked by highly integrated, modern, science-based and innovative practices, and its high-quality dairy products is the country's leading export earner.