Farming Systems delays long-term strategy by 2 years as takeover looms

Fri, 19 Oct 2012

Oct. 19 (BusinessDesk) - NZ Farming Systems Uruguay Limited says its longer-term farm development strategy will be delayed by two years to 2016 after a challenging year left milk production 10 percent below forecast. “The board’s view on the company’s long-term profitability has not changed, with anticipated increases in expenses likely to be offset by increases in long term milk price and additional livestock revenue over the period, the company said in a statement to the NZX. The shares ended the day unchanged at 74 cents and have gained...

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