Fonterra raises annual earnings forecast as it boosts margins, cuts costs

Sun, 15 Nov 2015

By Tina Morrison Nov. 16 (BusinessDesk) - Fonterra Cooperative Group, the world's largest dairy exporter, raised its annual earnings forecast as it cuts costs and boosts margins even as milk volumes decline. The Auckland-based cooperative raised its forecast earnings per share range for the current financial year to 45-55 cents, from a previous forecast of 40-50 cents, it said in a statement. It kept its forecast payout to farmers unchanged at $4.60 per kilogram of milk solids, which lifted its total available for payout to $5.05-$5.15/kg...

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