Fonterra hikes forecast payout again on eve of earnings result; warns on 1H of 2014 year

Tue, 24 Sep 2013

Sept. 24 (BusinessDesk) - Fonterra Cooperative Group, seeking to rebuild its reputation after a contamination scare that proved groundless, has hiked its forecast payout to farmers for a second time in as many months while warning earnings in the first half will be “significantly lower” than in 2013. On the eve of the release of its 2013 full-year results, Fonterra lifted its forecast payout by 50 cents per kilogram of milk solids to $8.30/kgms on continuing global demand for whole milk powder, adding to the 30 cents per kgMS increase last m...

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