"Never been as excited": Fonterra CEO thrilled with co-op's 'potential' after latest profit jump

Fonterra's boss is extremely proud of the dairy co-op's latest results. 

It delivered a $2.6 billion full-year profit, with total revenue hitting $27 billion. 

It's confirmed a final Farmgate Milk Price payout for farmers of $9.69 – down from last year's record-high $10.16. 

This year's total dividends come to 73 cents per share, including 16 cents paid out earlier from the sale of Fonterra's consumer arm. 

Chief Executive Richard Allen told Mike Hosking they've overcome major challenges including weather events and geopolitical instability. 

LISTEN ABOVE