Morgans picks 18% lift in Synlait profit on growing formula sales

Mon, 09 Sep 2019

By Rebecca Howard Sept. 9 (BusinessDesk) - Morgans expects Synlait Milk to report a 17.5 percent lift in full-year profit this week, underpinned by strong growth in infant formula volumes, a bigger contribution from lactoferrin, and slightly larger ingredients volumes. The forecast is largely driven by a 23 percent increase in canned infant formula volumes to 43,750 tonnes, Morgans' analysts Kurt Gelsomino and Belinda Moore said in a note. A2 Milk's 47 percent lift in formula sales and "the strong Lyttelton Port data suggests the com...

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