Solid jump in Synlait 1H earnings

The dairy processor is still upbeat about the full year. (Image: Supplied)

Fri, 01 Apr 2022

Synlait Milk reported a jump in first-half net profit and is still tipping “robust profitability” in the full year.Net profit was $27.9 million in the six months to Jan 31 versus $6.4m in the same period a year earlier. Adjusted net profit, which strips out one-off gains, was $14.5 million, up 128%, it said. Revenue lifted 19% to $790.6m.“This is a strong result that reinforces the focus and hard work undertaken to get Synlait back on track after a challenging 18 months,” said chair John Penno.It is still expecting...

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