Fonterra writes off $820-$860m, cuts dividend
Co-op expects loss of $590-$675m after asset impairments.
Dairy giant Fonterra has cancelled its dividend after announcing huge writedowns are expected to drag the full-year result into a loss of $590-$675 million.
In a statement, chief executive Miles Hurrell said a review of the co-op’s assets had revealed the need to write down the carrying value
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Fonterra writes off $820-$860m, cuts dividend
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