CORRECT Synlait beats prospectus forecast as full-year profit more than doubles

Tue, 24 Sep 2013

(Fixes reference to Fonterra food scare’s influence on sales in 5th graph, incorrect gain in share price in 7th graph) Sept. 24 (BusinessDesk) - Synlait Milk, the Canterbury-based dairy processor that went public in July, posted a 161 percent jump in full-year profit, beating its prospectus forecast, although infant formula sales missed its target. Profit was $11.5 million in the year ended July 31, from $4.4 million a year earlier, the company said in a statement. Sales rose about 12 percent to $420 million, which Synlait said was driven by...

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