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BRIEF-Fonterra announces earnings per share forecast for 2016/17

Published 01/08/2016, 06:44 am
Updated 01/08/2016, 06:50 am
© Reuters.  BRIEF-Fonterra announces earnings per share forecast for 2016/17

Aug 1 (Reuters) - Fonterra:

* Fonterra announces earnings per share forecast for 2016/17

* Forecast earnings per share range for the 2017 financial year of 50 to 60 cents

* Forecast farmgate milk price has been maintained at $4.25 per kilogram of milksolids (kgms)

* With the farmgate milk price forecast remaining at $4.25 per kgms, it is another financially challenging season for farmers"

* Expect global milk supply and demand to come into balance over the course of this season"

* Says forecasting a three per cent reduction in our New Zealand milk collection for this season

* NZ$4.25 farmgate milk price reflects continuing global uncertainty"

* Recent weakening of euro, combined with continued strength of New Zealand dollar, "has meant price advantage for European export dairy products"

* Source text for Eikon ID:nNZW1ZZThK

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