Landcorp slashes FY15 earnings guidance on lower dairy payout

Wed, 20 Aug 2014

By Paul McBeth Aug. 20 (BusinessDesk) - Landcorp Farming, the state-owned commercial farmer, slashed guidance for 2015 earnings after falling global dairy prices prompted Fonterra Cooperative Group to trim its forecast payout to farmers. The Wellington-based company expects net operating profit of between $8 million and $12 million in the 12 months ending June 30, 2015, down from a previous forecast of $20.5 million in its statement of corporate intent, it said in a statement. "The decrease from the SCI forecast reflects the recent dow...

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