Westland Milk Products has lowered its predicted payout range another 5c following a board meeting last week. Shareholders were advised following the meeting on Tuesday that the bottom line had dropped to $6.05 a kilo of milk solids for the 2017-18 forecast payout range, which was formerly forecast to be $6.10 to $6.30. The final payout less dairy company retentions for 2017-18 is expected to be announced on September 25 following the next board meeting, in line with previous years' announcements. The co-operative for the current 2018-19 season is predicting a payout range of $6.75 to $7.20. A well-informed source close to Westland Milk Products said yesterday the revised bottom line at this late stage did not bode well for the co-operative and farmers.

Source: Otago Daily Times September 04, 2018 22:18 UTC