Synlait Milk narrows loss in 2011, even as soaring milk prices squeeze margin

Thu, 21 Jun 2012

By Paul McBeth June 22 (BusinessDesk) - Synlait Milk, the milk processor that turned to a Chinese investor after failing to attract local equity capital, narrowed its annual loss last year, even as surging raw milk prices eroded its gross margin. The Canterbury-based company made a net loss of $3.1 million in the 12 months ended July 31 last year, smaller than the loss of $11.7 million a year earlier, according to financial statements lodged with the Companies Office. The milk processor lifted revenue 28 percent to $298.9 million, though i...

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