[27 September/Stuff]

Tatua shareholders would receive a payout of $8.10 per kilogram of milk solids. This comes after it posted record annual revenue. It had operating revenue of $357 million, and earnings of $127 million. The results follow the release of Fonterra’s figures that showed its first loss in its history. Westland Milk Products also released its results, posting a $3.3 million profit and a payout of $6.07 per kilogram of milksolids. Tatua Chairman, Steve Allen, said it had good relationships with both Fonterra and Westland, and there wasn’t a lot of comfort to be taken from the challenges they faced. He added it deliberately decided to have a different business model. He noted its focus on growing its value-add businesses contributed to the additional revenue. Tatua processed 14.7 million kilograms of milksolids from its 112 suppliers over the season.