Synlait eyes the future as it works to reel in new customer

Mon, 28 Sep 2020

Synlait Milk’s annual profit declined 9 percent, within guidance, as the milk processor bore the cost of recent investments to broaden its earnings base.That included the purchase of Dairyworks and Talbot Forest Cheese as well as the opening of a new facility at Pokeno, south of Auckland.Synlait has been trying to wean itself off relying too much on A2 Milk’s success in breaking into the Chinese infant formula market. Today it said it’s in the process of finalising a long-term supply agreement with a multinational customer for...

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