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Dairy giant Fonterra has raised its forecast milk price payout despite posting weaker profits for the first three months of its year. The co-operative has raised its forecast price range by 50 cents to $9.50 to $10.50 a kilo of milk solids, with a $10 midpoint. Chief executive Miles Hurrell said the forecast increase was down to improved market conditions. "We're seeing a recovery of demand in Greater China as domestic milk production rebalances and demand from Southeast Asia continues to be strong." "Looking at supply, milk production out of the US and Europe continues to be impacted by local factors, while production out of most regions of New Zealand has increased. " Hurrell said it was watching for any impact of increased geopolitical uncertainty on dairy markets. Profit falls However, the higher price of milk was a factor in Fonterra reporting a 30 percent fall in its first quarter profit to $263m from $346m the year before. "This is a strong start to the year, especially when taking into consideration the higher cost of milk and narrower price relativities when compared to this time last year," Hurrell said. He said Fonterra had started the year with less product in stock which affected sales, but it had switched more milk into higher value products. The co-operative was still forecasting a full year dividend between 40 and 60 cents a share. Hurrell said Fonterra was making progress on its business strategic change which is based on concentrating on high value ingredients and nutritional products, and divesting its consumer goods business , including major brands Anchor and Mainland, and operations in Australia and Sri Lanka. "Last month, we confirmed we are pursuing a divestment for these businesses. This work is now underway and we will share more information as it progresses." "Our priority is maintaining momentum in our financial performance while the divestment process is underway," Hurrell said. Sign up for Ngā Pitopito Kōrero, a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
PARIS (AP) — Riot police played their part as Le Havre won 2-0 at Nantes on Sunday in a French league match interrupted and then restarted during second-half stoppage time after disgruntled home fans tried to get on the field. The police formed a line in front of one of the stands, which houses the main ultras group, called Brigade Loire. Referee Jérôme Brisard then led the players off, with only about three minutes remaining in stoppage time. After the Brigade Loire had left the Stade de La Beaujoire, the match was deemed safe to resume 35 minutes later, and the final three minutes were played in a somber atmosphere. The defeat dropped eight-time French champion Nantes into 16th place in the 18-team league. “Honestly we weren't expecting that. It's rare to experience this kind of thing, but you can understand things from a fan's point of view," Nantes striker Ignatius Ganago told match broadcaster DAZN. "We are not getting results. But it's also difficult for us, the players.” After Josué Casimir had scored in the third minute for Le Havre, the match was halted for a few minutes when tennis balls and toilet paper were thrown onto the pitch by some home fans, with Nantes players helping to clear the debris on the field. Forward Steve Ngoura doubled the lead in the 74th for Le Havre, which climbed above Rennes into 14th. In Sunday's late game, Nice rallied to beat midtable Strasbourg 2-1 and move up to fifth place. Striker Dilane Bakwa put the Alsace-based side ahead in the 20th, before defender Melvin Bard equalized in the 54th from midfielder Sofiane Diop's pass behind the defense. Diop's pass forced an own-goal from Abakar Sylla in the 62nd when trying to pass back to goalkeeper Djordje Petrovic. Nice is two points behind fourth-place Lille after 12 rounds. Zhegrova shines for Lille Edon Zhegrova continued his fine form with the only goal as Lille beat Rennes 1-0 to stay one point behind Marseille in third. The Kosovo winger started and finished the move in the 45th minute with one of his trademark darting runs from the right flank. Zhegrova combined with Rémy Cabella and striker Jonathan David before firing past veteran goalkeeper Steve Mandanda with his left foot. It was his fourth league goal of the season and he is well set to beat his mark of six from the last campaign. The 25-year-old Zhegrova made similar attacking runs when Lille drew 1-1 with Juventus in the Champions League three weeks ago, providing a superb assist for David's goal. He thought he had set David up for a goal against Rennes in the 57th, after again breaking free down the right, but the effort was ruled out for a narrow offside. Zhegrova clutched his left groin near the end and was given an ovation by the home fans when he went off. Rennes is in 15th place. That really socks Struggling Rennes recently as coach after firing Julien Stéphan. Sampaoli has become famed within soccer for his short temper. The 64-year-old Argentine was irate when Rennes defener Mikayil Faye had to change his socks before coming on as a replacement for the injured Alidu Seidu early in the first half. Faye did not have the correct socks on and, with Sampaoli shouting at him, had to sit down on the side of the pitch and slip the right ones on. Also Sunday, midfielder Hamed Traorè scored three minutes into stoppage time as seventh-place Auxerre won 1-0 against lowly Angers. on Friday and on Saturday. ___ AP soccer: Jerome Pugmire, The Associated PressRegional Cooperation Urged to Strengthen Money Laundering and Terrorism Financing Safeguards