Landcorp cuts 2015 earnings forecast on lower dairy prices

Fri, 10 Oct 2014

By Tina Morrison Oct. 10 (BusinessDesk) - Landcorp Farming, New Zealand's largest corporate farmer, cut its forecast for 2015 earnings for a second time, citing weaker milk prices. The state-owned farmer said it expects net operating profit of $1 million to $6 million in the year ending June 30, 2015, down from a previous forecast of $8 million to $12 million, and an earlier estimate of $20.5 million in its statement of corporate intent. The Wellington-based company had net operating profit of $30 million in its 2014 financial year. La...

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