Fonterra warns about significant 2019 loss

摘要

Fonterra, the world's biggest dairy firm and a major player in the US$24 billion canned baby formula market, has revealed that it expects to make a significant loss this year as a result of a number of overvalued assets. The New Zealand dairy cooperative has warned that it will likely record a loss of NZ$590-675 million ($381-436m) in 2019, equating to a 37-42 cent loss per share. Following a full review of Fonterra's business, it became clear that the cooperative needed to reduce the carrying value of several of its assets and take account of other one-off accounting adjustments, which total approximately NZ$820-860m ($526-551m).