Latest / Best of Business / Jamie Mackay: The Country host on Fonterra posting a stronger-than-expected net profit

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Jamie Mackay: The Country host on Fonterra posting a stronger-than-expected net profit · Best of Business

• 0:09
  Speaker 1: You're listening to a podcast from News Talk sed B.
• 0:12
  Speaker 1: Follow this and our wide range of podcast now on iHeartRadio.
• 0:17
  Speaker 2: It's the nuts, Hayden, your metro, Heather, it's the nuts.
• 0:20
  Speaker 2: The bolt would be cast into the concrete. You're right, Hither,
• 0:22
  Speaker 2: it's a high probability that they use casting bolts and
• 0:24
  Speaker 2: only the nuts were removed. So h there we go.
• 0:27
  Speaker 2: How about me, lady splain and that engineer into year
• 0:29
  Speaker 2: six twenty five and with me right now is Jamie mackay,
• 0:32
  Speaker 2: Host of the Country.
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  Speaker 3: Hello, Jamie, gooda Heather, and congratulations on little Heather on
• 0:37
  Speaker 3: the way. Wonderful. You've got the complete seat. It's like
• 0:40
  Speaker 3: getting those rewards from the grocery store. You've got a
• 0:43
  Speaker 3: bang on.
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  Speaker 2: I'm taking so totally totally stuck for names, so I'm
• 0:48
  Speaker 2: taking advice on family names. My mum on my side
• 0:51
  Speaker 2: of the family has come up with Estelle apparently or Elizabeth,
• 0:56
  Speaker 2: and your side of the family has.
• 1:01
  Speaker 3: As it's a question for me or Barry.
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  Speaker 2: Well, you've got the same family. Ah, remember any woman
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  Speaker 2: in the family right now, I'll just get a look.
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  Speaker 3: I think giving people advice on on baby names as
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  Speaker 3: like it's just it's It's something you just can't want,
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  Speaker 3: isn't it. Well, that's a bit well, I guess it's
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  Speaker 3: head of the blows. You're raining the blows down upon me.
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  Speaker 3: From a poor southern semi farmer, I'm not really a farmer.
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  Speaker 3: I'm I'm a I'm a I'm a George Street farmer.
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  Speaker 3: But I've got a very farm meeting by zoom later
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  Speaker 3: on tonight. I'm going to have to ponder how we
• 1:48
  Speaker 3: can survive the mud and the mire and the swamp
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  Speaker 3: and the paddy paddy rice fields that is Southland at
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  Speaker 3: the moment.
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  Speaker 2: Change from trying to change the subject, don't you. I
• 1:57
  Speaker 2: just want to yah? Can I just apologize quickly for
• 2:00
  Speaker 2: all of those sound effects? It's not me, it's producer Andy.
• 2:02
  Speaker 2: He's found the button and loves it. Carry on, Jamie.
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  Speaker 3: Well, apart from the weather down south, it's been a
• 2:08
  Speaker 3: good week for farmers, Heather. I know you just talked
• 2:10
  Speaker 3: to Todd McLay about the FTA with the UAE. That's
• 2:16
  Speaker 3: a good deal. It's a good I mean it's a
• 2:19
  Speaker 3: bit of a one sided trade deal. I think we
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  Speaker 3: do one point three billion with them. They do something
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  Speaker 3: like one hundred and fifty million or something. Well, yeah,
• 2:26
  Speaker 3: one hundred and fifty million with us. It's a good look.
• 2:28
  Speaker 3: That's a really good deal for us. I think the
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  Speaker 3: big story is and I know you covered this one
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  Speaker 3: yesterday as well as the Fonterra announcement, and I will
• 2:37
  Speaker 3: temper that or qualify it by saying I got my
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  Speaker 3: ear chewed today by a grumpy west Otago dairy farmer.
• 2:42
  Speaker 3: I think in her case it was just because it
• 2:44
  Speaker 3: had been raining for a month solid. But she said
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  Speaker 3: to me, stop talking up the dairy price at nine dollars.
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  Speaker 3: Everyone's going to be trying ripping off farmers and selling
• 2:54
  Speaker 3: them stuff they can't afford. And I said, look, that
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  Speaker 3: is a good news story. But I did some sums
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  Speaker 3: just for you, Heather, if you'd bought it, If you
• 3:01
  Speaker 3: were a Fonterra farmer, and you'd bought a Fonterra share,
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  Speaker 3: because to supply Fonterira, to supply Fonterra, you need to
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  Speaker 3: have shares to equal your production. You could have bought
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  Speaker 3: a share in early February for two dollars and twelve cents.
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  Speaker 3: With your final divid announced yesterday at fifty five cents,
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  Speaker 3: that is a yield on your share of twenty six percent,
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  Speaker 3: Try and get that anywhere else in business. Even now,
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  Speaker 3: the shares have jumped from jump thirty cents in the
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  Speaker 3: course of this week since Myles Hurrald, a six million
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  Speaker 3: dollar man, made the announcement on yesterday, they've gone from
• 3:32
  Speaker 3: three fifty to three eighty. It's still a fifteen percent yield,
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  Speaker 3: not to be sniffed at at all. And one more
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  Speaker 3: to ponder here. Today I had Mark Delator, chief executive
• 3:42
  Speaker 3: of Open Country Dairy, the second biggest player in the
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  Speaker 3: dairy game behind Fontira, and he was saying, if the
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  Speaker 3: government doesn't have any hope at all of doubling export
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  Speaker 3: income in the next decade, they're going to have to
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  Speaker 3: ramp up dairy production. How do you do it? He's
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  Speaker 3: suggesting dairy conversions back on the table. Can you believe that?
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  Speaker 2: Can you believe it? Jamie Water Blast from the Past, Hey,
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  Speaker 2: thank you appreciate it. Jamie McKay, Host of the Country.
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