Synlait first-half profit jumps on boom in A2 Milk infant formula sales

Wed, 30 Mar 2016

By Fiona Rotherham March 31 (BusinessDesk) - Synlait Milk, the South Island dairy processor, boosted first-half underlying profit on a 358 percent increase in canned infant formula sales, mainly to specialty milk marketer A2 Milk. Underlying net profit was $12.3 million for the six months ended Jan. 31, from $400,000 a year earlier, the Rakaia-based company said in a statement. Revenue rose 8.1 percent to $213.5 million and was underpinned by volume growth of 8.9 percent to 46.356 metric tonnes (MT), improved product mix to higher value c...

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