Fonterra in a statement to NZ stock exchange, sees the 2018-19 milk price of NZD6.30-6.40 per kg of milksolids
- prior forecast was NZD6.30-6.60
Forecast financial year 2019 earnings per share to 10-15 cents
- from 15-25 cents previously
Cites:
- recovery in key markets slower than expected
- tightening price relativities between non-reference and reference products
- on-going challenges in Australia
(On Australia, Fonterra has announced overnight the closure of one plant, loss of 100 jobs)