Pāmu lowers profit forecast by $10m or more

Cyclone Gabrielle is one of the reasons for the revised forecast. (Image: Supplied/Pāmu)

Wed, 22 Mar 2023

Pāmu expects less revenue and higher costs thanks to a mixture of Cyclone Gabrielle and lower milk prices.The farming company released a statement revising down its expected full-year net operating profit from the originally forecast $55 million figure to one in the range of $34m to $44m.Pāmu chief executive Mark Leslie said cyclone damage had played a part in the revision, with costs from the disaster now estimated at $6.5m over two years and $2.5m in the current financial year, a figure which included both capital and operating expenses.Lives...

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