Fonterra Lifts Forecast Payouts

Thursday, 10 June 2004, 2:32 pm
Press Release: Fonterra Co-operative Group Ltd

10 June 2004

Fonterra Co-operative Group has lifted its forecast payout for the 2003/04 season to $4.23 per kg/ms - eight cents higher than the previous forecast - and raised its forecast payout for the 2004/05 season from $3.50 per kg/ms to $3.85 per kg/ms.

The final payout for 2003/04 will be announced following the Board's approval of the audited accounts in July.

Chairman Henry van der Heyden said higher commodity prices were behind both increases while an improving exchange rate also contributed to the higher forecast for the 2004/05 season.

ENDS

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