SYDNEY, April 27 (Reuters) - Murray Goulburn Co-operative Co...

SYDNEY, April 27 (Reuters) - Murray Goulburn Co-operative Co Ltd (MGC), Australia's biggest dairy producer, said its managing director is stepping down as it blamed slower than expected milk powder sales in China for a profit warning nine months after listing.

The company said it expects net profit of between A$39 million and A$42 million ($30.2 million and $32.5 million) in the full 2015/16 fiscal year, less than half the $85.8 million it forecast in a prospectus before listing in early 2015.

($1 = 1.2908 Australian dollars)