UPDATE 2-Parmalat 9-month net down, ups 2009 guidance

* 9-mth net revenues down 1 pct

* Sees 2009 core profit at 350 mln euros

* Shares closed down 0.16 pct before results released

(Adds comment from conference call, more statement details)

MILAN, Nov 6 (Reuters) - Italian dairy group Parmalat (PLT.MI) raised its 2009 core profit target on Friday but said nine-month net profit more than halved as it made less from the settlement of legal actions related to its 2003 collapse.

Parmalat, which makes long-life milk and juices, said it expected earnings before interest, tax, depreciation and amortisation (EBITDA) of 350 million euros ($521 million), up from previous guidance of 310-320 million euros.

It expects 2009 revenue growth of 1-2 percent, it said, down from a previous forecast of 2-4 percent. Nine-month net revenues fell 1 percent to 2.847 billion euros, it said in a statement.

On a conference call with analysts, Antonio Vanoli, general manager for operations, said the company was prudent with the forecasts but "maybe we could perform even better".

Parmalat raised its guidance due to improved performances in Australia, Italy and South Africa as well as an "outstanding" performance by its Venezuelan unit, and preliminary data for the fourth quarter.

It said its acquisition policy had not changed. "We are looking to new geographic areas to increase our presence in emerging markets ... We maintain the guidance for the cost of acquisitions," Chief Executive Enrico Bondi told analysts.

"Our policy is to avoid dilution and not to do acquisition for (the sake of) acquisition but be very careful of what we will buy."

He also confirmed Parmalat's interest in the baby food market.

Nine month net profit was 283.4 million euros, down from 638 million euros last year, "due mainly to a reduction in the contribution provided to the bottom line" by legal action.

EBITDA rose 20.6 percent to 265.3 million euros, thanks to list price increases and cost savings on purchases of raw milk, particularly in Italy.

Parmalat has received contributions to its accounts from claim settlements related to its 2003 collapse, when it buckled under 14 billion euros of debt. It was restructured and relisted on the Milan bourse in 2005. (Editing by Will Waterman) ($1=.6722 Euro)