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Fonterra posted strong 2026 first-half results, raised profit forecasts, sold Mainland Group to Lactalis, and announced CEO departure.
Fonterra reported strong first-half results for fiscal 2026, with revenue rising 10% to NZ$13.9 billion and net profit increasing to NZ$750 million.
The company raised its forecast for the farmgate milk price midpoint to NZ$9.70 per kg of milk solids and upgraded full-year earnings guidance to 50–65 cents per share.
Improved global demand, effective cost management, and strong performance in high-value products drove the results.
The co-op completed the sale of its Mainland Group to Lactalis for $4.22 billion, with proceeds expected by end-March.
CEO Miles Hurrell announced he will step down after the next six months.
Fonterra registró fuertes resultados para el primer semestre de 2026, elevó las previsiones de ganancias, vendió Mainland Group a Lactalis y anunció la salida del CEO.