Synlait Milk flags faster growth in 2014 as Fonterra cuts guidance

Wed, 11 Dec 2013

By Paul McBeth Dec. 11 (BusinessDesk) - Synlait Milk, the milk processor which joined the NZX in July, says earnings will beat guidance next year on cheaper raw milk prices and growing demand for its products. That contrasts with Fonterra Cooperative Group, which today slashed its guidance in the face of a margin squeeze. International demand is favouring Synlait’s milk powder and anhydrous milk fat products, while recent announcements mean the season’s milk price won’t be as high as expected, the company said in a statement. Because of tha...

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