Synlait Milk hikes forecast payout to farmgate to $8kgms, affirms revenue forecast

Tue, 03 Sep 2013

Sept. 3 (BusinessDesk) - Synlait Milk, the local milk processor which listed on the stock exchange in July, has followed rivals Fonterra Cooperative Group and Westland Milk in hiking its forecast payout to farmers, though it’s keeping its earnings forecasts intact. The Rakaia-based company expects to pay $8 per kilogram of milksolids in the 2014 season, up from a previous forecast of $7/kgms, it said in a statement. The dairy firm also lifted its advance rate 50 cents to $5/kgms. Despite the increased cost of production, the milk processor i...

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