Fonterra trims top end of forecast milk price but lifts earnings guidance

Fonterra trims top end of forecast milk price but lifts earnings guidance
Chief executive Miles Hurrell says it's a positive start to the year. (Image: Getty)
Rebecca Howard
Fonterra lowered the top end of its forecast farmgate milk price but lifted its earning guidance after a strong first quarter of trading.The dairy co-operative expects to pay farmer shareholders $8.50-to-$9.50 per kilogram of milk solids, down from its prior range of $8.50-to-$10.00/kgMS.However, the cheaper input price for the milk processor saw it lift earnings guidance to 50-to-70 cents per share, implying earnings of between $806.2 million and $1.13 billion, from 45-60 cents per share, or $725.5m-to-$967.4m. Fonterra reported normalised ear...

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