Westland cuts payout forecast by 3% on disappointing sales

Wed, 27 Mar 2019

By Rebecca Howard March 28 (BusinessDesk) - Westland Milk Products lowered its forecast payout for shareholders for the current season by about 3 percent due to weaker than expected sales. Westland, which has signed a conditional agreement to sell the co-operative to Inner Mongolia Yili Industrial Group for $588 million, now expects to pay farmer-shareholders $5.80-$6 per kilogram of milk solids, down from a previous forecast of $6-$6.20/kgMS. In contrast, in late February Fonterra Co-operative Group raised its forecast on rising Asia...

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