Landcorp Farming forecasts wider annual loss, no dividend

Tue, 25 Oct 2016

By Tina Morrison Oct. 26 (BusinessDesk) - Landcorp Farming, the state-owned farmer, has forecast a wider annual loss and no dividend for the current year, reflecting low growth in its milk and livestock revenues and increased spending for longer term gain. The Wellington-based state-owned enterprise predicted a net operating loss of $13.1 million for the year ending June 30, 2017, from a loss of $9.4 million a year earlier. However, the forecast in Landcorp's 2016 annual report is based on Fonterra Cooperative Group's earlier expectation...

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