Fonterra CFO comments on share price
5 JULY 2019
FONTERRA CFO COMMENTS ON SHARE PRICE
Fonterra Chief Financial Officer Marc Rivers says nothing new has happened in its underlying business
operations to cause the Fonterra share price to drop yesterday.
“While the share price does not impact the Co-op’s balance sheet or our ability to operate and pay our
bills, it does impact our farmers’ balance sheets.
“The fundamentals of our business are strong: the world wants more dairy and we make great products.
“But, our performance is not where it needs to be. We’re doing everything we can to turn that performance
around and are undergoing a full strategy review. We know there are going to be some bumps along the
way.
“Our credit rating agencies have publicly recognised the strength of our underlying business and that’s
why we continue to have an A band credit rating.
“Fonterra is committed to further strengthening our balance sheet and lifting our performance, and we
believe this will be reflected in the value of the Co-op over time,” says Mr Rivers.
ENDS
For further information contact:
Fonterra Communications
Phone: +64 21 507 072
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