WELLINGTON, March 22 New Zealand dairy giant
Fonterra reported a 2.2 percent rise in
half-year profit on Wednesday, lifted by earnings gains for its
high-value consumer products.
But the world's largest world's largest dairy exporter cut
its guidance for the full year because of dairy market
volatility, reducing forecast earnings per share to 45 to 50
cents per share, from a range of 50 to 60 cents.
It said net profit after tax for the six months to Jan. 31
rose to NZ$418 million ($294 million), compared with NZ$409
million a year ago.
Fonterra held its forecast farmgate milk price to NZ$6 per
kilogram. It announced an interim dividend of 20 New Zealand
cents, the same as last year.
($1 = 1.4198 New Zealand dollars)
(Reporting by Tom Westbrook; Editing by Ruth Pitchford)