Fonterra maintains earnings guidance despite coronavirus

Thu, 27 Feb 2020

Fonterra Cooperative Group has maintained its earnings guidance for the 2020 season, despite lower milk collection constraining supply due to dry conditions. The dairy producer reaffirmed December’s forecast farmgate milk price range at $7-to-7.60 per kilogram of milk solids and continues to expect full-year underlying earnings at 15-to-25 cents per share. Chief executive Miles Hurrell said momentum from the first three months of the financial year has continued and underlying earnings are tracking well. “However, given the poten...

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