Posts tagged "Westland Milk Products"

Profits up at Westland Milk pre-tax

[9 November/NZ Herald] Westland Milk Products has reported profit before tax of $3.25million for its recently completed financial year (last year the co-op reported a before-tax profit was $29,000). On releasing its annual report the West Coast co-op acknowledged it was still not industry competitive and lacked “financial flexibility” due to high debt levels and...

Lewis Road, Westland launch top end butter in Texas, California markets

[3 November/The Country] Lewis Road Creamery, Westland Milk Products and Southern Pastures LP, New Zealand’s largest dairy farmland fund, are collaborating to introduce top shelf, grass fed milk butter to US markets. ‘Artisan’ is being produced by Westland in Hokitika and has been launched this month at premium stores in California and Texas. Southern Pastures...

Bumper spring milk flow puts pressure on payout

[31 October/NZ Farmer] National milk flows are 5.6% ahead of last season as favourable weather conditions have helped production levels. The growth partly reflects the poor production achieved last year when the weather was either too dry or too wet. ASB Bank economist, Nathan Penny, said that ASB has increased its milk growth forecast from...

Westland acknowledges payout ‘not competitive’

[1 October/The Country] Westland Milk Products held back its profits to give a final net payout of $6.07 per kilogram of milksolids. It lowered its predicted payout for the current season from $6.90 to $6.50. Its Chairman, Peter Morrison, said a substantial number of shareholders would receive an additional premium of 4.4 cents. He added...

Tatua payout tops $8 after record result

[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...

Westland shareholders to get update on strategic review

[20 August/The Country] Westland Milk Products is expecting to give shareholders an update on a strategic review before Christmas. Board Chairman, Pete Morrison, said it had begun implementing a new strategy that was focused on more segregated, higher value added products. The scope of the review includes Westland’s future ownership structure with options on the...

Westland, Synlait forecast higher milk prices after Fonterra hike

[1 June/The Country] A bullish outlook for butter prices encouraged Westland Milk Products to increase its farmer payout forecast from $6.75 to $7.20 per kg of milksolids for 2018/19. This compares with $7.00 for Fonterra and Synlait Milk. Westland Chairman, Pete Morrison, said the coming season’s forecast was driven by an improved sales outlook. He...

Fonterra approaches farmers to switch from Westland Milk Products

[25 May/The Country] Fonterra has approached Westland Milk Products suppliers to switch loyalties with the promise of better returns. Federated Farmers President for the region, Peter Langford, said it was known that Westland suppliers had been talking to Fonterra as it tried to secure supply on the West Coast. He expected some suppliers would switch...

Westland inks deal with Indonesia’s Kalbe

[19 March/Dairy Reporter] Westland Milk Products signed a Memorandum of Understanding with Kalbe, an Indonesian consumer health and nutrition company. Westland Milk Product’s Chief Executive, Toni Brendish, said this was a significant opportunity to work with a South East Asian market leader and that this will lead to a strategic relationship with Kalbe. Ms Brendish...

Milk payout lowered after cyclone

[7 March/Otago Daily Times] Ex Cyclone Fehi is affecting farmers as their co-operative Westland Milk Products reduced its forecast payout for the 2017-18 season. Westland Milk Products Chairman, Peter Morrison, said the Board had considered the bottom line financial impact due to interruption in production and that the costs were equivalent to 8-10c per kilo...

Milk Producer cuts forecast price

[2 February/ Radio New Zealand] Westland Milk Products has cut its forecast milk price back by more than 20 cents. They are expecting a price of between $6.20 and $6.50 which is relatively similar when compared to Fonterra, $6.40, and Synlait, $6.50. Westland’s chair Pete Morrison stressed that they seek to be fair to all...

Storm cuts power to Westland milk factory and forces farmers to dump milk

[2 February/ NZ Farmer] Westland Milk Products had to temporarily close its factory in Hokitika and dozens of farmers in the region have had to dump milk because of power cuts and impassable roads. ‘There’s flood damage to roads and trees down so tankers cannot get through,” a Westland Milk Products spokesman said. According to...

Westland Milk – closing the gap on dairy’s big brother

[6 January/ NZ Herald] Following some challenging seasons where Westland Milk Products fell significantly behind Fonterra in payout return, new CEO, Toni Brendish, has set out closing the gap following her appointment in September 2016.  The co-op has focused heavily since Ms Brendish’s arrival on cost cutting and growing revenue and has spent time explaining to...

Westland Milk signals higher 2018 payout

[2 August/ NZ Herald] Westland Milk Products expects to pay a higher farmgate price in the 2018 season following ten months of analysis and systems change under new management. The company has cut staff numbers to decrease costs as part of a broader restructuring to process milk and run operations more efficiently after a high-cost...

Milk fat prices take a break

[3 August/ NZ Herald] ASB Senior Rural Economist Nathan Penny said a slowdown in milk fat prices is likely temporary due to surging demand and tight inventories. Prices overall decreased 1.6 percent. Butter and anhydrous milk both decreased 4.9 percent while skim milk powder fell 3 percent. Whole milk powder prices rose 1.3 percent however...

Westland gains new customer as it works to retain suppliers

 [27 March/ Stuff] Westland Milk Products has secured a new large-scale Chinese order for Westgold UHT cream from new customer 85°C Bakery Café. Westland Milk Products has recently faced farmer threats to switch their supply to Fonterra or Synlait due to disappointments in the cooperative’s forecast milk pay-out of $5.40-$5.80 per kilogram of milk solids....

Westland signals redundancies

[2 February/ Otago Daily Times] Westland Milk Products CEO, Toni Brendish, has indicated that redundancies are likely as the company undertakes a review of staff role.  Ms Brendish would not speculate on the number of roles that may be impacted but noted the review which includes the Group’s Easi-Yo and Shanghai operations will be completed...

Westland Milk Products report $14.5m loss

 [27 October/ NZ Herald] Westland Milk Products has reported a net loss after tax of $14.5 million for the 2017 financial year, but has remained in compliance with its banking covenants. Westland Milk Products Chairman, Matt O’Regan said it had been a tough year and the final net average cash payout of $3.88 per kilogram...

Westland Milk Products confirms $3.87 payout

 [28 September/ Radio NZ Rural] Westland Milk Products has confirmed its payout for the 2015/16 season would be $3.87 per kilogram of milk solids. Westland Milk Products Chairman, Matt Regan said the payout was below the breakeven point for most farmers, but the company had maintained farmers’ cash flows by starting the season with a...

Westland appoints CEO

[29 July/ Dairy News] Westland Milk Products has announced the appointment of Toni Brendish as its new chief executive officer. Westland Chairman, Matt O’Regan said Ms Brendish had extensive leadership experience in the international food and dairy industries, including a role as vice-president of DKSH in Thailand. Mr O’Regan added that Ms Brendish’s familiarity with...

New milk plant has big orders

[18 April/ NZ Farmers Weekly] Westland Milk Products have secured big orders for their $40 million ultra-high temperature (UHT) plant which was opened in Canterbury on Friday. Westland Milk Chief Executive, Rod Quinn said the commissioning of the Rolleston plant was the first step towards producing and exporting liquid milk. Mr Quinn added that it...

Westland Milk Products drops forecast payout

 [31 March/ Otago Daily Times] Westland Milk Products has decreased its forecast payout from between $4.00 and $4.10 per kilogram of milk solids to between $3.90 and $4.00 per kilogram for the 2015-16 season. Westland shareholders were told that they should expect at least two more seasons of low payouts. Westland Chief Executive, Rod Quin,...

Quin quits Westland

 [29 February/ Farmers Weekly] Westland Milk Products Chief Executive, Rod Quin has resigned after seven years in the role. Mr Quin said it was genuinely his decision to leave, and that it was simple time to go and let someone else bring their energy and style to the business. Westland Milk Chairman, Matt O’Regan said...

New dairy trading platform signs on Westland Milk

[10 February/ National Business Review] New dairy trading platform, Cream Trading has signed up Westland Milk Products as its first local customer. Westland has joined the Auckland based trading market on a six month trial, along with companies in the United States, Australia and Ireland. Cream Trading Chief Executive, Kevin O’Sullivan said the platform allowed...