1 00:00:00,960 --> 00:00:04,480 Speaker 1: You're listening to a share these podcast, what do you 2 00:00:04,559 --> 00:00:09,399 Speaker 1: see for twenty twenty five? Anyway, the main challenges are 3 00:00:09,400 --> 00:00:10,480 Speaker 1: head fourth on terror. 4 00:00:11,119 --> 00:00:14,320 Speaker 2: Yeah, I think the geopolitical landscape that we see ourselves, 5 00:00:14,400 --> 00:00:16,880 Speaker 2: and you know, we've been dealing with us, as I say, 6 00:00:16,920 --> 00:00:21,000 Speaker 2: for a long long time. But yeah, the situation it's 7 00:00:21,040 --> 00:00:23,480 Speaker 2: playing out in gars of the situation that's been playing 8 00:00:23,520 --> 00:00:27,960 Speaker 2: out in Ukraine. You know, the elections that we've seen 9 00:00:28,000 --> 00:00:31,440 Speaker 2: in North America. All these things you know, have have 10 00:00:31,200 --> 00:00:34,320 Speaker 2: have seen more come to light, I guess in a 11 00:00:34,360 --> 00:00:36,480 Speaker 2: relatively short period of time. So making sure we're nimble 12 00:00:36,600 --> 00:00:40,199 Speaker 2: enough for that, having a strong balance sheet to withstand 13 00:00:40,200 --> 00:00:44,000 Speaker 2: any shocks that come our way, really strong customer partnerships, 14 00:00:44,000 --> 00:00:46,199 Speaker 2: and so despite all these things that go on around us, 15 00:00:46,240 --> 00:00:48,599 Speaker 2: you know, people still need to eat, people still need 16 00:00:48,640 --> 00:00:51,320 Speaker 2: to consume, and if things get hard, you know, having 17 00:00:51,360 --> 00:00:54,959 Speaker 2: the wrong relationships and place globally could sit you back. 18 00:00:54,960 --> 00:00:57,160 Speaker 2: But if you've got these partnerships, the custom partnerships that 19 00:00:57,200 --> 00:00:59,600 Speaker 2: have been around for a long long time, they will 20 00:00:59,640 --> 00:01:02,320 Speaker 2: stand some good stead we believe to get us through. 21 00:01:02,360 --> 00:01:05,520 Speaker 2: And then you know, it sounds simple, but the diversification 22 00:01:05,560 --> 00:01:09,160 Speaker 2: of our markets, you know, is you know, while there 23 00:01:09,200 --> 00:01:11,440 Speaker 2: are some markets that we may struggle to deal sometimes 24 00:01:11,480 --> 00:01:13,639 Speaker 2: because it can be a little bit tough and getting 25 00:01:13,680 --> 00:01:16,240 Speaker 2: cash out of them, or they may speak a different language, 26 00:01:16,280 --> 00:01:19,399 Speaker 2: whatever it may be. You know, just having the boots 27 00:01:19,440 --> 00:01:20,840 Speaker 2: on the ground to be able to deal with those 28 00:01:20,840 --> 00:01:24,280 Speaker 2: markets and those customers because at certain times you need them, 29 00:01:24,319 --> 00:01:27,160 Speaker 2: and so that's important for us and something that's helplesus 30 00:01:27,319 --> 00:01:28,840 Speaker 2: to date in terms. 31 00:01:28,680 --> 00:01:31,360 Speaker 1: Of investors, for Cheesys and investors anyway. I mean, I 32 00:01:31,400 --> 00:01:33,880 Speaker 1: probably should explain that there are the two types of 33 00:01:33,959 --> 00:01:37,080 Speaker 1: Fontierra shares. Is the co op she is if CG 34 00:01:37,160 --> 00:01:39,440 Speaker 1: I think it is, and then you've got the Fontierra 35 00:01:39,520 --> 00:01:42,240 Speaker 1: she hold a fund with the if IF three fund, 36 00:01:42,560 --> 00:01:45,600 Speaker 1: which is probably what most shares these investors will be 37 00:01:45,600 --> 00:01:50,200 Speaker 1: thinking about. Obviously, investors always look at the outlook and 38 00:01:50,240 --> 00:01:54,280 Speaker 1: where a company is going. China obviously being talked about 39 00:01:54,280 --> 00:01:56,400 Speaker 1: a lot. You've got the farm gate price, those sorts 40 00:01:56,440 --> 00:01:59,720 Speaker 1: of things. The outlook. I think you gave some guidance 41 00:01:59,800 --> 00:02:03,720 Speaker 1: back in December, and it would seem fairly as you say, 42 00:02:03,800 --> 00:02:07,120 Speaker 1: record highs for that farm gate price. Is there anything 43 00:02:07,400 --> 00:02:10,400 Speaker 1: our set's helpful for investors to understand in terms of 44 00:02:11,480 --> 00:02:13,000 Speaker 1: you know, where a company might be headed. 45 00:02:14,800 --> 00:02:16,720 Speaker 2: I mean, look, it's no secret that we went through 46 00:02:16,720 --> 00:02:19,320 Speaker 2: some pretty tough times to go back to twenty seventeen 47 00:02:19,360 --> 00:02:21,360 Speaker 2: eighteen nineteen, and we had to sort of do things 48 00:02:21,360 --> 00:02:25,440 Speaker 2: differently and we've talked a bit about that, and you know, 49 00:02:25,639 --> 00:02:27,320 Speaker 2: as a result, our year for us took a hit, 50 00:02:27,560 --> 00:02:30,640 Speaker 2: and probably rightly so. But hopefully in the last two 51 00:02:30,720 --> 00:02:33,680 Speaker 2: or three years, you know, we're showing our investors, we're 52 00:02:33,680 --> 00:02:36,960 Speaker 2: shown our hearholders, We're shown that the unit holders that 53 00:02:37,360 --> 00:02:38,720 Speaker 2: you know we stand up and say we're going to 54 00:02:38,720 --> 00:02:41,560 Speaker 2: do something, we get on and do it. We are delivering. 55 00:02:41,639 --> 00:02:45,040 Speaker 2: Our performance has shown that we're delivering and despite a 56 00:02:45,120 --> 00:02:48,520 Speaker 2: record high milk price, you know, earnings and the earnings 57 00:02:48,560 --> 00:02:50,520 Speaker 2: persh year guidance that we've got out there is also 58 00:02:51,280 --> 00:02:56,799 Speaker 2: pretty good. We've increased our dividend policy which also shows 59 00:02:56,840 --> 00:03:00,919 Speaker 2: that there's a half decent yield there as well. So 60 00:03:01,639 --> 00:03:04,800 Speaker 2: all those things hopefully give some confidence to the sharholder 61 00:03:04,840 --> 00:03:09,360 Speaker 2: community that we're here for all our stakeholder groups, which 62 00:03:09,360 --> 00:03:14,040 Speaker 2: includes farmers, unit holders. Clearly the New Zealand and public 63 00:03:14,080 --> 00:03:16,960 Speaker 2: have an interest in what we do, and Wellington obviously 64 00:03:17,520 --> 00:03:19,200 Speaker 2: like to take a bit of interest from time to time. 65 00:03:19,320 --> 00:03:21,880 Speaker 2: So you know, we understand the role that we play, 66 00:03:22,000 --> 00:03:25,600 Speaker 2: but you know, hopefully the performance to date, the clarity 67 00:03:25,639 --> 00:03:30,160 Speaker 2: of our strategy and where we're heading, gives that confidence 68 00:03:30,200 --> 00:03:33,480 Speaker 2: that unit holders and shoeholders have in their business. 69 00:03:33,720 --> 00:03:39,680 Speaker 1: So your March results are coming soon, and who knows, 70 00:03:40,160 --> 00:03:42,720 Speaker 1: we can't expect too many surprises, but you're pretty confident 71 00:03:42,760 --> 00:03:45,480 Speaker 1: that things are steady in tracking along. 72 00:03:45,720 --> 00:03:49,920 Speaker 2: Yeah, so that finished over the weekend the thirty. The 73 00:03:50,000 --> 00:03:52,040 Speaker 2: end of January was the end of the half years, 74 00:03:52,120 --> 00:03:55,120 Speaker 2: and so yeah, we're expected to come out in mid 75 00:03:55,160 --> 00:03:57,839 Speaker 2: March with what those results look like. And so yeah, 76 00:03:57,840 --> 00:04:00,240 Speaker 2: there's nothing that to get away from our guidance out 77 00:04:00,240 --> 00:04:01,920 Speaker 2: there at the moment of forty to sixty cents and 78 00:04:02,400 --> 00:04:04,280 Speaker 2: a milk price of ten dollars midpoint. 79 00:04:04,800 --> 00:04:07,440 Speaker 1: Investing involves the risk you might lose the money you 80 00:04:07,440 --> 00:04:07,880 Speaker 1: start with. 81 00:04:08,200 --> 00:04:11,920 Speaker 2: We recommend talking to a licensed financial advisor. We also 82 00:04:12,000 --> 00:04:15,240 Speaker 2: recommend reading product disclosure documents before deciding to invest.