Fonterra Maintains 2015/2016 Forecast Payout

Fonterra Maintains 2015/2016 Forecast Payout

Fonterra has announced it will maintain its forecast farmgate milk price pay out for the 2015/16 season at $4.60 per kg of Milk Solids.

The key points are:

Will maintain forecast farmgate milk price payout at $4.60/kg of milk solids
Signs of recovery, particularly in China, there is still an imbalance between supply & demand

Along with estimated earnings per share, total available for payout if $5.05-5.15/kg of milk solids

Total forecast cash payout $4.95-$5.00
Will not continue loan for milk collected after 31 December 2015

Loan of 50 cents per kg milk solids is interest-free until 31 May 2017

The NZD is little changed in response.

The current indicative rates are:
NZDUSD 0.6625 / 0.6650
NZDEUR 0.6000 / 0.6025
NZDGBP 0.4360 / 0.4385
NZDJPY 80.30 / 80.55
NZDAUD 0.9190 / 0.9215

ends

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