Synlait Milk affirms on track to meet IPO forecasts for 2014 earnings gain

Tue, 03 Dec 2013

Dec. 3 (BusinessDesk) – Synlait Milk, which is 39 percent owned by China’s Bright Dairy, said it is on track to meet its prospectus forecasts for earnings growth in 2014 as it ramps up production of infant formula and its constituent ingredients. The Canterbury-based dairy processor went public in July, raising $75 million to repay debt and build a plant to produce lactoferrin, an ingredient in baby food and adult nutritional products. The plant is on target to open in February, chairman Graeme Milne told shareholders at their annual meeting...

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