Westland Milk's payout at low end of guidance; cuts 2019 forecast

Wed, 26 Sep 2018

By Rebecca Howard Sept. 26 (BusinessDesk) - Westland Milk Products has cut its forecast for the 2019 season due to weak global butter prices and announced a farmgate return near the bottom end of guidance. New Zealand's third-largest dairy company said its final milk payout for the 2018 season was $6.12 per kilo of milk solids, less a 5 cent retention. That delivered a net average result for shareholders of $6.07 per kgMS. The cooperative had forecast a payout of $6.10 to $6.40 and the retention enabled it to report a pre-tax profit of $...

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