Synlait Milk forecasts boost in half-year net profit on back on boom in infant formula

Tue, 08 Dec 2015

By Fiona Rotherham Dec. 8 (BusinessDesk) - Synlait Milk, the South-Island based dairy company, is forecasting a boost in underlying net profit for its first-half, which will be significantly above the $419,000 achieved in the same period in 2015 mainly due to a boom in sales of infant formula. At its annual meeting in Rakaia today, chief executive John Penno said the company, in which Shanghai-based Bright Food has a 39 percent stake, was experiencing strong nutritional product sales due to a rise in demand for infant formula. Chairman...

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