Landcorp earnings improve on rising milk, meat prices

Wed, 18 Dec 2019

Landcorp Farming said annual earnings are forecast to more than double as Chinese demand during a food shortage helps drive up global prices for meat and milk products.The state-owned farmer, which trades as Pamu, raised its forecast for earnings before interest, tax, depreciation and revaluations to between $73 million and $78 million for the year ending June 30, 2020. That’s up from a previous forecast of $61 million, and more than twice the $34 million reported in the June 2019 year.“The improved milk price principally reflects the revision...

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