Synlait profit rises 10%; Pokeno legal exposure 'not substantial'

Wed, 11 Sep 2019

By Rebecca Howard Sept. 12 (BusinessDesk) - Synlait Milk lifted annual net profit 10 percent and said it remains sanguine about legal issues facing its soon-to-be commissioned Pokeno plant. Profit rose to $82.2 million in the year ended July 31 from $74.6 million a year earlier. Revenue climbed 17 percent to $1.02 billion, the milk processor said. “This growth was despite an overall drop in the value of the farm gate milk price during the year, which reduced revenues by more than $30 million on a like-for-like product mix. Underlying r...

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