December 6, 2017 / 9:27 AM / 12 days ago

BRIEF-Fonterra Shareholders' Fund reduces forecast Farmgate Milk Price for 2017/18

Dec 6 (Reuters) - Fonterra Shareholders’ Fund:

* ‍REDUCED ITS FORECAST FARMGATE MILK PRICE FOR 2017/18 SEASON FROM $6.75 TO $6.40 PER KGMS​

* “‍UPDATED ITS FULL SEASON NEW ZEALAND MILK COLLECTION FORECAST DUE TO ONGOING CHALLENGING WEATHER CONDITIONS”​

* CO-OPERATIVE HAS REDUCED ITS FORECAST FOR FULL SEASON BY 1 PER CENT TO 1,525 MILLION KGMS - SAME VOLUME AS LAST SEASON​

* ‍Q1 REVENUE OF $4 BILLION IS UP 4 PER CENT ON SAME PERIOD LAST YEAR​

* ‍Q1 SALES VOLUMES ARE DOWN 20 % TO 3.9 BILLION LIQUID MILK EQUIVALENT (LME), WHILE GROSS MARGIN OF 16.7 PER CENT IS ALSO DOWN​

* FOR BALANCE OF 2018 REDUCED FORECAST EARNINGS FROM 45-55 CENTS TO 35-45 CENTS PER SHARE

* ALL FIGURES IN NZ$​ Source text for Eikon: Further company coverage:

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