LIC Downgrades its Underlying Earnings Forecast

  • May 20, 2020 NZST
  • Team Kalkine
LIC Downgrades its Underlying Earnings Forecast

Livestock Improvement Corporation (NZX:LIC) has downgraded its underlying earnings forecast for its next financial year i.e. for the year ended 31 May 2021. The company has updated its market range to $16 million to $22 million for the year ended 31 May 2021 due to:

  • Impacts of COVID-19 on forecast milk price;
  • Credit tightening for farmers;
  • Increased compliance costs for the next season on New Zealand dairy farmers.

At NZST 11:51PM, the stock was trading at $0.700 per share, no change from its previous close.

 


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