Fonterra affirms milk payout forecast, lowers dividend guidance as profit falls

Tue, 24 Mar 2015

March 25 (BusinessDesk) - Fonterra Cooperative Group, the world's biggest dairy exporter, affirmed its milk payout forecast and lowered guidance for dividends, while posting a 16 percent drop in first-half profit it says reflected "tough conditions in dairy." The forecast payout for the current season was affirmed at $4.70 per kilogram of milk solids, down from a record $8.40/kgMS last season, while guidance for dividends was trimmed to a range of 20 cents to 30 cents, from a previous 25 cents to 35 cents. Net profit fell 16 percent to $183...

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