Fonterra Shareholders Fd

Thank you for standing by and welcome to the Fonterra full year results briefing. All participants are in a listen only mode. There will be a presentation followed by a question and answer session. If you wish to ask a question, you will need to press the star key followed by the number one on your telephone keypad. I would now like to hand the conference over to Mr. Myles Harrell, CEO. Please go ahead.

Thank you. Good afternoon, everybody. Joined here today, Andrew, Phil and Richard, to answer any of your questions. By now, hopefully you've had a chance to review the video, had a read of the results that came out this morning. Probably headline from our perspective, we're really pleased as a leadership team with where we've landed this year. A lot of hard work, of course, that goes into these results, but to be sitting here today delivering a decent set of numbers for our farmer owners and unit holders are something that we are all very proud of. With that, I'll hand straight to the host to take us through the questions, please. Thank you.

Thank you. Once again, if you do wish to ask a question, please press star one. If you wish to cancel your request, please press star two. And if you're on a speakerphone, please pick up the handset to ask your question. Your first question comes from Ari Decker from Jarden. Please go ahead.