Landcorp Farming has lifted its earnings forecast for the June year, due in part to higher milk production. The state-owned entity, which has the Pāmu brand, said its earnings before interest, tax and depreciation will be in the range of $59 to $64 million. This is a substantial lift when compared with the previous forecast, issued in February, of between $45m and $50m. The change to the forecast reflects improvements in expected milk production and lifting value from Pāmu’s portfolio of milk products. Lower than expected operating costs included less wages due a higher than usual number of unfilled roles, which was caused by a scarcity of labour. A tight control of maintenance and fuel expenses has also contributed positively to Pamu’s forecast result.
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