RESEND: Synlait almost triples 2016 profit, warns of 'modest growth' next year

Sun, 18 Sep 2016

(Removes reference to Mitsui in sixth paragraph.) By Tina Morrison Sept. 19 (BusinessDesk) - Synlait Milk, the NZX-listed dairy company, almost tripled annual profit in line with its forecast, although it warned growth in the coming year would be more modest as new Chinese regulations disrupt infant formula sales. Underlying profit rose to $32.7 million in the year ended July 31, from $12.2 million a year earlier, the Rakaia-based milk processor said in a statement. That's in line with its forecast last month of between $32 million and...

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