Q1 2024 Fonterra Co-Operative Group Ltd Earnings Call Transcript
Good afternoon, everyone. Thank you for joining the call. I'm here with Simon Till, Acting CFO and Selena Robb, Director of Capital Markets and M&A. Hopefully you've had a chance to review the information that we released today as part of our quarter one business update. We will intend to go through the slides if you have them in front of you.
Just the first slide, just a quick summary. We have had a good start to the year, quarter one profit after tax, $346 million up, $214 million on the prior year, driven by improved margins across all three of those channels, being consumer, food service, and ingredients. Equates to an earnings per share of $0.20, but includes the performance of discontinued operations and the impact of our selling our DPA Brazil business.
The co-ops continuing operations earnings per share is $0.24, which is up from $0.13 in the prior year. The strong start has led us to lift our four-year earnings range to $0.50 to $0.65 from $0.45 to $0.60 prior. We also lifted our farm gate milk price by $0.25 and also
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