Fonterra Co-operative Group Limited (ASX: FSF) has revised its FY2023 earnings guidance up from 30 to 45 cents to 45 to 60 cents per share. It also revised its forecast milk collections for the period 2022/23 season down from 1,510 million kgMS to 1,495 million kgMS.
The increase in the forecast earnings in driven by ongoing solid demand for dairy. Thus, driving the prices higher and improved margins across FSF’s portfolio of non-reference products like its cheese and protein product like casein.
At AEST 11:15 AM, FSF shares are trading at AU$2.810, up 4.850% from the previous close.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.