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BRIEF-Fonterra forecasts total payout available to farmers in 2015/16 season will be NZ$4.25-NZ$4.35

Published 07/08/2015, 01:37 pm
Updated 07/08/2015, 01:46 pm
© Reuters.  BRIEF-Fonterra forecasts total payout available to farmers in 2015/16 season will be NZ$4.25-NZ$4.35

Aug 6 (Reuters) - Fonterra:

* Fonterra - forecast total payout available to farmers in the 2015/16 season will be NZ$4.25-NZ$4.35

* Fonterra - "farmgate milk price forecast has been reduced from $5.25 kgms to $3.85 per kgms"

* Fonterra - co-operative has announced $4.25 - $4.35 forecast total available for payout for 2015/16

* Fonterra - has reduced its New Zealand milk volume forecast for 2015/16 season to 1,589 million kgms, 2 per cent lower than the previous season

* Fonterra - "now targeting a spend of $500million - $600million less for 2016 financial year compared to FY 2015"

* Fonterra - Fonterra Co Operative support of an additional 50 cents per shared-up kilogram of milksolids to support farmers this season

* Fonterra - forecast earnings per share range of 40 - 50 cents per share

* Fonterra -"reviewed capex for next 2 years; targeting a spend of NZ$500 million-NZ$600 million less for 2016 financial year compared to FY 2015.

* Fonterra -"positive impact of the lower farmgate milk price on consumer margins globally for New Zealand-sourced products"

* Fonterra - "will be a very difficult season for farmers if current prices continue"

* Fonterra - announced Fonterra Co Operative support of an additional 50 cents per shared-up kilogram of milksolids to support farmers this season

* Fonterra - all figures in nz$

* Source text for Eikon ID:nNZW6VFK4m

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