Aug 1 (Reuters) - Fonterr Fonterra announces earnings per share...

Aug 1 (Reuters) - Fonterr

• Fonterra announces earnings per share forecast for 2016/17
• Forecast earnings per share range for the 2017 financial year of 50 to 60 cents
• Forecast farmgate milk price has been maintained at $4.25 per kilogram of milksolids (kgms)
• With the farmgate milk price forecast remaining at $4.25 per kgms, it is another financially challenging season for farmers"
• Expect global milk supply and demand to come into balance over the course of this season"
• Says forecasting a three per cent reduction in our New Zealand milk collection for this season
• NZ$4.25 farmgate milk price reflects continuing global uncertainty"
• Recent weakening of euro, combined with continued strength of New Zealand dollar, "has meant price advantage for European export dairy products"